Under australian tax law,you have to retain the documents to back up the tax treatment and depreciation of an asset. This idea was shared in Jan 25 - it is now October 26. The new asset functionality makes it very easy to remain compliant. However, when you need to use a small business pool and the asset functionality switches over to classic, you then are unable to attach a document. This causes a disparity between previously added assets in the new set up and having to store documents separately when it switches over to classic for the pool. Absolutely terrible bit of functionality to have left unattended to for almost 2 years.
Justine Ellis
supported this idea
·
Under australian tax law,you have to retain the documents to back up the tax treatment and depreciation of an asset. This idea was shared in Jan 25 - it is now October 26. The new asset functionality makes it very easy to remain compliant. However, when you need to use a small business pool and the asset functionality switches over to classic, you then are unable to attach a document. This causes a disparity between previously added assets in the new set up and having to store documents separately when it switches over to classic for the pool. Absolutely terrible bit of functionality to have left unattended to for almost 2 years.