WebFCT v Western Suburbs Cinemas Ltd . Eg replace the engine in a car with an engine of the same capacity, no added power so it is a replacement & deductible; replacing it with an engine of greater capacity will improve the performance of the vehicle so it will be an improvement & capital. WebCases square4Repairs and Improvements FCT v Western Suburbs Cinema (1952) 86 CLR 102 W. Thomas & Co Pty Ltd v FCT (1965) 115 CLR 58 Law Shipping Co v IRC (1924) SC 74 square4Bad Debts FCT v National Commercial Banking Corp of Australia Ltd 83 ATC 4715 Point v FCT 70 ATC 4021
Potl 2024 paragraph 1350 improvements improvement is - Course …
WebFCT v Western Suburbs Cinemas Ltd (1952) Not able to undertake a non-deductible capital improvement and seek to deduct the amount that it would have cost to undertake a mere repair. PoTL 2024 paragraph [13.70] Repairs:3. Replacements Necessary to determine whether a replacement is: Part of an asset (constituting a deductible repair); or WebIn FCT v Western Suburbs Cinemas Ltd (1952) 86 CLR 102, the taxpayer wanted to repair a damaged ceiling at its cinema but the existing … flight emt salary
BFA 714 Assessment 2 1 .docx - 1. Assessable Income Item...
WebCA Angels Camp Angels Theatre Beaumont 2nd Street Cinema Concord Veranda LUXE Cinema & IMAX Fairfax Fairfax Theatre Folsom Palladio 16 Cinema Folsom Palladio … WebThis new item has a considerable advantage over the old one, so no deduction is allowed (FCT v Western Suburbs Cinemas Ltd (1952) 86 CLR 102). Insurance prepayment$50,000 Deductible 50,000 Under s 82KZM and 82KZMD ITAA36, a Small Business Entity prepayment is immediately deductible if the payment is covered for a … WebThe Company celebrated its 16th birthday on August 24, 1926, by purchasing the plot of land situated at 37, Chowringhee, (now renamed J.L. Nehru Road) Kolkata, for the sum of Rs 310,000. This decision of the Company was historic in more ways than one. It was to mark the beginning 13854 Words 56 Pages Decent Essays Read More flight emt school