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Taxation Retirements Report for Depreciable Assets

Use this report to show all retirements for depreciable assets and include Division 10D Buildings and Improvements.

Report Parameters

When you request the Taxation Retirements report, Oracle Assets asks you for the following information:

Book Choose the tax depreciation book required.
From Period Choose first period.
To Period Choose last period.
Category Choose one, or leave blank for all asset categories.
Sort Options Asset Number: The report is sorted by asset number, then by date retired.
Date Retired: The report is sorted by date retired, then by asset number.
Category (with subtotals): The report is sorted by category, asset number, then by date retired.
Note: Category Summary is not available on this report.

Column Headings

In this column... Oracle Assets prints...
Asset No. The asset's identification number.
Description The description of the asset.
Category The asset category.
Depreciation Method The method used to depreciate the asset.
Depreciation Rate The rate used to depreciate the asset. This rate is derived in the case of life based methods.
Date Acquired The date the asset was placed in service.
Date Retired The date the asset was disposed or retired.
Tax Value The asset's tax depreciable value.
Total Tax Allowance The tax depreciation claimed to date, or in the case of Division 10D assets, the capital allowance claimed to date.
Net Tax Value The tax depreciated or written down value of the asset at retirement.
Proceeds of Sale The net disposal proceeds, which is the proceeds of sale less the cost of removal.
Assessable (Deductible) The assessable gain or the deductible loss that is to be recognized for this tax year. Assessable income is calculated as the proceeds of sale, less the net tax value, less the gain in excess of the asset's tax value if the proceeds of sale are more than the asset's net tax value. Division 10D buildings are excluded since they cannot have an assessable gain. The deductible loss is calculated as the proceeds of sale, less the net tax value if the proceeds of sale are less than the asset's net tax value. Division 10D buildings can only have a deductible loss if they have a retirement type of SCRAP/DEMOL.
Balancing Charges The amount of an otherwise assessable gain, which has been applied against another asset as a balancing charge and, therefore, is not assessable.
Gain Over Tax Cost The proceeds of sale, less the asset's tax value if the proceeds of sale exceed the asset's tax value.

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