The capital works deduction relates to the building structure and is a fixed amount that can be claimed per year on all applicable building structures for up to forty years. Plant and equipment items or the buildings’ fixtures and fittings have varying effective lives and therefore can be depreciated at an increased rate. Keep reading for more information on plant and equipment items.
- Q1 What is capital works deduction (Division 43)?
- Q2 What is plant and equipment (Division 40)?
- Q3 Why itemise plant and equipment?
- Q4 Difference between Prime Cost and Diminishing Value methods of depreciation?
- Q5 Which depreciation method is best?
- Q6 How does low value pooling help to maximise my depreciation claim?
- Q7 What is scrapping?
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