Settings and activity
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54 votes
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Allisa Coltish
supported this idea
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38 votes
An error occurred while saving the comment Allisa Coltish
commented
In addition to Depreciation against Partnership income there should also be Depreciation against Trust Income. The Depreciation and Motor Vehicle Deduction schedules should also be available to integrate as deductions against Trust income
Allisa Coltish
supported this idea
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327 votes
Hiya team, we had high hopes but unfortunately we've had to put plans for being able to copy & transfer the Capital Gains Tax(CGT) worksheet down for the intermediary.
We still intend to bring focus to this idea over the longer term but will shift this idea back to Submitted for now until we can begin active development. As soon as there's more word to share I'll be back with an update, here
Allisa Coltish
supported this idea
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282 votes
Hi team, we’ve seen a lot of support for this idea, and acknowledge why you’d like a simple way of reflecting if part of a fixed asset is used privately.
As Xero doesn’t currently offer a built-in way to allocate depreciation between business and private use I wanted to re-highlight from our last update how this can be recorded -
Currently you could post manual journals to record the private use apportionment of a Fixed Assets depreciation.
If you're using Fixed Assets in NZ it's possible to set up an asset and apportion a % for private use. However, it's important to note that it's not possible to apportion the private use depreciation of an asset prior to using Xero. In this case when you sell the asset a manual journal may be needed to correctly state the private use.
At this time, we want to be upfront that our…
Allisa Coltish
supported this idea
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7 votesAllisa Coltish
shared this idea
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Would love to be able to print the unlinked depreciation schedule with the tax return.