MYLEDGERTax preparation & working papers
Blackhole expenditure schedule
A schedule for business-related capital costs deductible over time under section 40-880.
The problem it solves
Set-up costs that are deductible over several years get forgotten after the first year.
How it works
- Record the expenditure.
- The schedule spreads the deduction.
- Carry it forward each year.
What your practice gets
- Deductions not forgotten.
- Documented.
- Carried forward.
Questions accountants ask
Which provision applies?
Section 40-880 of the Income Tax Assessment Act 1997.
Is it carried forward?
Yes.
Does it give advice?
No. It supports your professional judgement. Check current ATO guidance and legislation for rates and rules.
Related features
Features that work alongside blackhole expenditure schedule.
Working papers hub
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Track Division 7A loan accounts, calculate minimum repayments per year with the benchmark rate and carry balances forward.
VideoDivision 7A results from FEDIX
Use Division 7A calculation results from the FEDIX calculator in MYLEDGER working papers.
FBT working paper
Record fringe benefits, scan transactions for likely FBT items and work through the FBT year.
VideoFranking account and dividends
Track the franking account balance and dividends declared each year, including ATO payment receipts.
VideoSee it working in your practice.
Start with one workflow and adopt more of the connected practice system over time. Your team reviews and approves the work.
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