Question
Explain briefly whether and to what extent the following are allowable deductions and which section applies:(a)$800 to install a security alarm system in a shop.(b)Repairs
Explain briefly whether and to what extent the following are allowable deductions and which section applies:(a)$800 to install a security alarm system in a shop.(b)Repairs to a boundary fence 3 years after acquisition. Tenants damaged the fence during a party.(c)Repairs to a rental property. The repairs were carried out after acquisition to remedy defects, whichwere in existence at acquisition. The owner was able to rent the property while the renovations werecarried out.(d)New range hood bought for rental property. The range hood that was in the property at acquisitionwas considered to be too old,so it was traded in on the new model.(e)An amount of $2,600 paid to a solicitor for preparing a partnership deed.(f)Legal expenses incurred by a company opposing a petition for winding up.(g)The cost of moving heavy machinery to a new site.(h)Legal expenses incurred for the services of a solicitor for conveyancing ($3,250) on the purchase of anew head office building.
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