The Acquisitions command centre displays the Asset Pools window for large businesses and SBE and non-SBE taxpayers. Included in this window is the ability to view details of the low-value pool, the general SBE pool, the long-life SBE pool and the software development pool. Depending on the type of business and the financial year of the data file, the pools will either have the 'active' or 'not active' status.

The Asset Pools window enables you to:

• view the list of assets that are in each pool at any given time,
• view the total value of the assets in the pool, which takes into account the balance carried over from the previous year, the depreciation that has been calculated on the assets, and any sale proceeds from the disposal of pooled assets.

ASSET POOLS TOPICS

• To view the list of assets in a pool
  
• To view the total value of assets in a pool
• To print asset pool information

To view the list of assets in a pool

1 Go to the Acquisitions command centre and click Asset Pools. The Asset Pools window appears with the Pool List view displayed by default.

2 Select the pool for which you want to view the asset information using the Pool Type drop-down list. Whether the pool is active or not, the list of assets currently in the pool is displayed. If the pool is not active. you will not be able to add assets to that pool. The window displays the date upon which each asset was acquired and the initial cost of each asset. If an asset has been disposed in the current year, it will continue to appear in the list until the data file is rolled over to the following financial year. In this case, you will notice that the date on which the asset was sold and its sale amount are displayed in the list.

3 If you are a large business or a non-SBE business and elect to pool our low-cost assets, the Pool Status field will display 'Active'; if not, it is 'Not Active'.

4 If you want to look for a specific asset you can enter either the asset ID or name in the Look for
field, depending on the option you selected in the Search in field. 

To view the total value of assets in a pool

1 Go to the Acquisitions command centre and click Asset Pools. The Asset Pools window appears.

2 Select the pool you want to view using the Pool Type drop-down list.

3 Click the Pool Summary tab.

4 This window displays the:

• current financial year,
• opening balance (which is the amount carried forward from the previous year's closing balance),
• the written down value of the assets pooled that have been included in previous years and the cost of those included in the current year,
• total adjustments that have been made to the pooled assets,
• total amount of depreciation that has been calculated on the pooled assets,
• total amount realised on the sale of the assets in the pool,
• closing balance (which is the total of the Opening Balance and Assets Pooled, less the total

Depreciation and Sale Proceeds).

If you view the software development pool, the pool summary view displays the opening balance, the depreciation applicable to the software development pools for each of the four years of the pool's life, and the closing balance.

• Software in a software development pool is depreciated over a life span of four years at 0 percent in the first year, 40 percent in the second and third years respectively, and 20 percent in the fourth year.

• Software expenditure incurred in a subsequent year must be added to a new pool. The closing balance of the software development pool is scaled each year. The pool continues to depreciate at the applicable rates until the end of four years.

NOTE : Pool balances If the balance of the general SBE pool or long-life SBE pool is less than $1000 before depreciation is applied, then that amount becomes the depreciation value and the closing balance is zero.

To print asset pool information

1 Go to the Acquisitions command centre and click Asset Pools. The Asset Pools window appears, with the Pool List tab selected by default.
2 Select the pool you want to print using the Pool Type drop-down list.
3 Click Print.
4 Click OK in the Print window.