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Capital Works Deduction or Low Cost Pool?
If I was the ATO, I would say that seems perfectly reasonable and shows that you are sort of 'acting in the spirit of things' i.e. the 'vibe'. I'm not sure what they would say. It's still a whole item being replaced so they would fall back on that.- depreciator
- Post #7
- Forum: Accounting and Tax
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Capital Works Deduction or Low Cost Pool?
It's always good to have a win, Bec.- depreciator
- Post #5
- Forum: Accounting and Tax
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Capital Works Deduction or Low Cost Pool?
Bec, the Low Value Pool applies to Assets e.g. Appliances, carpet, curtains etc. A built-in robe is 'building'. Regardless of the cost, you claim it at 2.5%. Re the tank. If you replace a whole item, it's not a 'repair'. If te stumps had problems when you bought the place, any work you...- depreciator
- Post #3
- Forum: Accounting and Tax