Hi everyone,
We recently installed some BIRs into an IP and our schedule has them listed as capital works improvements with an effective life of 40 years.
I know that the legislation keeps changing but this seems crazy that BIRs costing only $5000 have a life this long and therefore we can only claim 2.5% p.a.
It also looks like fencing and kitchen cupboards are the same.
Is this correct or is there any way around it?
Thanks
We recently installed some BIRs into an IP and our schedule has them listed as capital works improvements with an effective life of 40 years.
I know that the legislation keeps changing but this seems crazy that BIRs costing only $5000 have a life this long and therefore we can only claim 2.5% p.a.
It also looks like fencing and kitchen cupboards are the same.
Is this correct or is there any way around it?
Thanks