What are the thoughts on claiming deduction for a kitchen that one would scrap/dispose. Say the Depreciation report valued it at $5,000. Investor puts in a new one at $15,000.
Does it mean in Year one, the claim will be $5,000 + Depn on the $15,000?
If yes, that would also suggest the cost base goes down by $5k for the kitchen disposed?
Does it mean in Year one, the claim will be $5,000 + Depn on the $15,000?
If yes, that would also suggest the cost base goes down by $5k for the kitchen disposed?
Scrapping assets and tax claim
