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

To purchase Part 1 only, please click here

Repairs & Maintenance 2022 Part 2 – Recent Tax Issues

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.

There is no specific provision that addresses the deduction to be allowed for repairs and maintenance. The current income tax rules are found only under the general deductibility rules.

The lack of legislation in this area provide uncertainty in distinguishing between capital and deductible expenditure.

The course will review the income tax treatment, including a review of:

• The process developed by the courts to determine the deductibility of repairs and maintenance expenditure
• The relevant court cases
• Repair of recently acquired assets
• Notional repairs
• Deductibility of demolition costs

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 webinar 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

To purchase Part 2 only, please click here

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.