I have a rental property with a spa that has been rented out for several years. Recently the pump and blower internal to the spa had to be replaced like-for-like. Additionally the spa cover was breaking down and had to be replaced. Are these costs deductible or depreciable?
I understand the general concept of when something is a repair and when it requires depreciation but in this case I am not sure if the components are considered separate assets or a component of a bigger unit (the spa). I am leaning towards the latter for the pump and blower as they are internal. I can see the ATO lists an effective life for "Swimming pools and spas: Filtration assets (including pumps)" of 8 years however perhaps that is for standalone units. If the spa cover has to be depreciated what would it's effective life be?
Thanks in advance
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