Today I was having lunch with one of my clients. I got to the point that I have to explain how we take the figures from the depreciation schedule and put it in the tax return for her.
The first highlight in the table is, we call it, capital allowance where the deduction for dryer, dish washer and oven etc get included.
The second highlight in the table is called capital work deductions which includes the deduction for building improvement and building constructions.
Those deductions are pro-rated if the property was rented for part of year. After all this, she was happy with her tax returns.
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