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I don't understand that view. If the business operate a machine that made mousetraps they would depreciate it. If it broke down and was irreparable they would scrap it. If its the very property that produces assessable income it must be destroyed so the same principles apply. Its not a CGT event...

A common question I receive concerns scrapping deductions for a property which has been rented and earning assessable income for a number of years. The owners decide to demo it and rebuild. Often multiple dwelling on the property. Is a deduction always available ?? There are divergent...