Xero Tax Asset Register - Written off Assets not Remaining on Register
Hi,
In tax returns for clients that have a business schedule in their ITR, when an asset is fully depreciated, in the following year it disappears from the tax return and depreciation schedule altogether.
Is there a way assets can remain on the depreciation schedule? It is very handy to have a full depreciation schedule for all assets, particularly if clients sell assets in the following years.
Thank you
Jasmeet Singh
shared this idea
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Kevin Sun
commented
This idea was submitted two years ago. Has this been considered?
XERO Tax currently automatically write-off all depreciable assets once it's written down value becomes $0. This affects our CGT calculations of various assets at the time of sale. There should be an option or a default setting where the asset is kept on the depreciation schedule until the accountant decides to write it off.