Smoke alarm replacement - what 'category' does it fall under

Discussion in 'Accounting & Tax' started by KayTea, 14th Feb, 2018.

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  1. KayTea

    KayTea Well-Known Member

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    Because recent smoke alarm testing at my QLD IP's has indicated that they are not compliant (based on the new legislation), I'm getting them updated/replaced etc.

    Does this fall under repairs and maintenance for record keeping (and taxation) purposes? I'm assuming it would, but as they weren't actually broken, I'd rather double check. To me, it really isn't an 'improvement', but a necessary change.

    TIA, KayTea
     
    KayTea, 14th Feb, 2018
    #1
  2. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    The cost is under $300. A deductible item. Hardwired over $300 a depreciable cost.
     
    Paul@PAS, 14th Feb, 2018
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    KayTea likes this.
Maximum Deductions - Washington Brown Depreciation