Painting following tenant damage - depreciate or expense?

[James Bond]

Hi, I've had to have some painting done and buy some blinds following tenant damage. The painting is worth $800 and the blinds will probably be about $400. Do I have to depreciate this or can I claim it as an immediate expense?

Thanks

JB

 

[bbmick]

Painting = Expense (claimable this year)

New Blinds = Depreciating Asset (depreciated)

 

[Paul@PFI]

Tip : Split the blinds up. Purchase on two ocassions each under $300. Better if they arent identical too, even different stores. This triggers the small capex write off which allows small capital expenditure to be written off. Hence capital expense is then deductible.

 

[James Bond]

Tip : Split the blinds up. Purchase on two ocassions each under $300. Better if they arent identical too, even different stores. This triggers the small capex write off which allows small capital expenditure to be written off. Hence capital expense is then deductible.

Cool! I actually managed to buy them all for $250. So I can immediately write them off as an expense?

JB

 

[Paul@PFI]

$250 is less than $300 ? So of course you can.

Read Page 7 onwards !
http://www.ato.gov.au/uploadedFiles/Content/MEI/downloads/ind00342353n17290613.pdf

 

[James Bond]

$250 is less than $300 ? So of course you can.

Read Page 7 onwards !
http://www.ato.gov.au/uploadedFiles/Content/MEI/downloads/ind00342353n17290613.pdf

Cool, thanks, I've found the right relevant bit.

JB