Repairs and maintenance : capital versus revenue? Get a real world approach / presented by Frank Owen
By: Owen, Frank.Series: Professional Development course paper (CAANZ).Publisher: Wellington, N.Z. : Chartered Accountants Australia and New Zealand, 2014Edition: August/September.Description: 64 p. ; 30 cm.ISSN: 1173-9851.Subject(s): Property | Expenditure | Deductions
|Item type||Home library||Collection||Call number||Status||Date due||Item reserves|
|CA Course/Conference Paper - NZ||New Zealand||S.1255 (Browse shelf)||Available|
|CA Course/Conference Paper - NZ||New Zealand||Reference||S.1255 (Browse shelf)||Not For Loan|
Flowchart - approach to analysis -- The deductibility issue -- First stage - identifying the relevant asset -- Putting it in plain language -- Asset identification cases -- The Entirety test -- Overseas authorities -- Key points on identifying the asset being worked on -- Relationship with the depreciation rules -- Second stage - nature and extent of work done -- Capital/revenue cases -- Analysis of case law -- Has the work done changed the character of the asset? -- Nature of the work done -- Use of more modern materials -- Scale of the work done -- Key points on the nature & extent of the work done to the asset -- Examples -- Questions we have been asked.
Looks at the key issues in determining if the expenditure on maintaining property is capital or revenue.