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AU Tax - Depreciation Schedules unlinked

Ability to have separate and unlinked depreciation schedules available in Xero Tax a still print a depreciation report would be very useful. At times there is no requirement to link a depreciation schedule to a particular area with the tax return (it may not be relevant for the current year however is required in future years) or the schedules relates to two areas within the tax return. I have circumstances where rental assets has differing ownership percentages which causes a nightmare using the current depreciation processes.

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Janelle Sawtell shared this idea  ·   ·  Report…  ·  Admin →
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  • Heather Locker commented  ·   ·  Report

    This is a critical function which accountants need to correctly report depreciation in a tax return.

  • Matt Bell commented  ·   ·  Report

    This is a vital improvement suggested

  • Jeni Wilcock commented  ·   ·  Report

    Could you please prioritise this change?
    We recently moved over to Xero from MYOBAE where this wasn't an issue - this lack of functionality is causing additional work - please add this to your priority list.
    Thankyou

  • Miranda Bravo Hollands commented  ·   ·  Report

    This would be such a good feature. I have a client with foreign employment income, and linking a depreciation schedule to foreign expenses is not an option, but he has items to depreciate.

  • Katie Shaw commented  ·   ·  Report

    Just allow all depreciation to be linked or unlinked please. There is too much added work if the asset isn’t used that year however returns the following FY.

  • Christine James commented  ·   ·  Report

    Started using Xero tax in May 2024 and can't believe this isn't an option!!

  • Holistic Tax, Accounting & Auditing commented  ·   ·  Report

    I am very new to Xero Tax and have the same issue with depreciation against Partnership income. It would be good to be able to print the unlinked schedule or better still be able to link it into the deduction label in Partnership income.

  • Goran Trajkovski commented  ·   ·  Report

    At the moment we cannot keep depreciation in a partnership distribution schedule. A lot of clients are buying depreciable assets as partners in partnerships. It would be good if the depreciation is kept in the XERO tax file, rather than in Excel. I prefer an ability to create depreciation assets in the Partnership/Trust schedule, or have it unlinked/centralised with an option to link to different schedules where depreciation is relevant

  • Allisa Coltish commented  ·   ·  Report

    Would love to be able to print the unlinked depreciation schedule with the tax return.