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  • Depreciating assets and capital expenses

    You can claim a deduction for the decline in value (depreciation) of capital assets such as buildings, motor vehicles, furniture, and machinery and equipment.

    Land and trading stock items are not depreciating assets. However, certain improvements to land and fixtures on land are depreciating assets.

    The cost of an asset includes both the amount you paid for it as well as any additional amounts incurred transporting the asset and installing it in position.

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    Last modified: 22 Jun 2017QC 33875