Repairs & Maintenance 2022 Part 1 – Review of the Income Tax Rules

Investment in fixed assets is a significant part of the capital outlay for many businesses. The income tax deduction for repairs & maintenance of these assets is an area that continues to cause many problems for business owners and accountants.

Over the last 8 years there have been a number of changes and clarifications to the treatment of work done for specific reasons or on specific types of assets.

The course will clarify the income tax treatment of:

• Expenditure on leaky homes
• Earthquake strengthening expenditure
• Can you apportion expenditure on an existing asset as capital & revenue
• The treatment of expenditure on existing residential rental buildings
• The treatment of expenditure on existing non-residential rental buildings

In each area we will review the law and its application as well as a working through practical examples to illustrate that issue.

Upon satisfactory completion of this activity you will be able to:

• understand the rules and principles better
• identify relevant tax issues
• have a greater awareness of tax implications in each of the areas

Suited to:

• intermediate through to advanced accountants in public practice who are dealing with SMEs
• corporate accountants of SMEs.

1.25 CPD hours

PRESENTER

Mike Hadwin, Director, Symmetry Advisory

Mike is a regular presenter for TEO Training. You’ll learn from Mike’s 40 years of tax experience as a public CA and facilitator. His clear presentation style enables you to quickly understand and apply practical learning concepts to common situations you may face in your role.