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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 Questions

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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.

This entry was posted in Tax Questions. Bookmark the permalink.

TaxTimTaxTim 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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