SearchBurning question on depreciation
Debbie asks:
(updated on Tuesday, March 26th 2013)
I own a rental property through an LAQC that has an old, small wood burner in the lounge. It is a large house and I previously have had two tenants (families) move out saying it is too cold in winter. The current tenants are also complaining. I am considering buying heat pumps to heat the house. Can the cost of these be claimed back? Or would they be considered a capital expense to be depreciated?
Our Experts Answer:
The cost should probably be capitalised as a new chattel asset. As a new chattel asset though the cost can be depreciated where the building can't.
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