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1. Fixed Assets - Partial allocation of depreciation for business and private use

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   77 comments  ·  Reports & tax » Fixed Assets  ·  delete…  ·  Admin →
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   Not in pipeline  ·  AdminKelly Munro (Community Manager, Xero) responded

   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 product team doesn't currently have plans to build this functionality.

   We’ll continue to track interest here, and revisit if priorities shift.

   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… more

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   Linda Kaye commented  ·  19 April, 2024  ·  Edit…  ·  delete…

   I cannot believe that this is not already a feature of Xero - it is very disappointing that it is not - means extra work for the accountant.

   Save Submitting...
   Linda Kaye supported this idea  ·  19 April, 2024

2. AU Tax: CGT - Option to copy and transfer

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   51 comments  ·  Practice tools  ·  delete…  ·  Admin →
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   Accepted  ·  AdminKelly Munro (Community Manager, Xero) responded

   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

   Linda Kaye supported this idea  ·  08 June, 2023