November 2011 News Archive

Depreciation Changes Means More Analysis Required by Building Owners (30th November)

Building owners can no longer claim depreciation on buildings as a result of last year’s tax changes.

In the past, due to the depreciation deductions available for buildings, owners would often simply capitalise the full cost to the building asset and depreciate accordingly, without looking into it further.

No depreciation on buildings means greater focus should be placed on analysing building costs to ensure that owners are obtaining the full deductions to which they are entitled.

There are several common situations which building owners may face.

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