Announcements
We’re in read-only mode while we do some scheduled maintenance to bring you a bigger, better and brighter online community.
You can still search the site to find answers or take a look at our current top 10 questions.

ATO Community

is Garage door depreciation or expense

Initiate

Views 388

Replies 1

Hello,

I need to replace the whole double garage door in a rental property as it is beyond repair, costing $2700

Do I claim it as depreciation plant or expense?

Thanks in advance.

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

ATO Certified Response

Devotee

Replies 0

Repair (expense) vs Replacement (capitalise and depreciate) - see here

 

In short - if you replace the whole thing, you generally capitalise and depreciate. If you are only replacing / repairing part of an asset then its repair.

 

For you - it sounds like you need to capitalise and depreciate.

1 REPLY 1

Most helpful response

ATO Certified Response

Devotee

Replies 0

Repair (expense) vs Replacement (capitalise and depreciate) - see here

 

In short - if you replace the whole thing, you generally capitalise and depreciate. If you are only replacing / repairing part of an asset then its repair.

 

For you - it sounds like you need to capitalise and depreciate.