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  1. #31
    Join Date
    Feb 2018


    Quote Originally Posted by Rosco View Post
    The cost of installation is also part of the asset, so the cost to install also can not be expensed. The cost of the heat pump and the installation would be recorded as an asset and depreciated.

    If you leased - most likely would really be a hire purchase, and therefore also an asset.

    If you purchased the separate components for $500 or under. Still an asset, as they for the same asset, and form part of the same asset.

    This is really black and white. There is no legitimate way the heat pump could be expensed.

    Also the difference on say $3k if held as a rental for 3 or more years would be tiny!

    Also if I was IRD reading this post, I would be auditing you, as if you are trying this on, I would hate to see what other things you have claimed over the years.

    Thumbs up.


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