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Insurance paid out to cover the cost of installing new units. Would this be capitalised?

Posted 20 February 2014 under Tax Q&A


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Our aircons were stolen and insurance paid out to cover the cost of installing new units. Would this be capitalised? The expense is R19 000.

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TaxTim TaxTim says:
24 February 2014 at 10:58

This would be a replacement of assets and would go back onto the balance sheet similar to the ones that were replaced.


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