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Repair Replace in a rented house

  • 04-12-2020 9:24pm
    #1
    ianjohn
    Registered Users Posts: 28 ✭


    Hi, We rent a house and have been depreciating the furniture etc over the 8 years.

    When we decided to update the TV cost €500, can we cost it to repairs replacement or should we depreciate over another 8 years?

    All advice appreciated.


Comments

  • #2
    Bobby1984
    Registered Users, Registered Users 2 Posts: 268 ✭✭Bobby1984


    ianjohn wrote: »
    Hi, We rent a house and have been depreciating the furniture etc over the 8 years.

    When we decided to update the TV cost €500, can we cost it to repairs replacement or should we depreciate over another 8 years?

    All advice appreciated.

    It is a fixed asset so I would claim capital allowances over 8 years.


  • #3
    Marcusm
    Registered Users, Registered Users 2 Posts: 10,425 ✭✭✭✭Marcusm


    You haven’t repaired the tv, you hve disposed of one and acquired another. Capital allowance so.

    It’s fairly clear with individual items such as TVs but less clear with things like windows - glass replacement is clearly not capital. What about the frames? There is no element of enhancement so is it a repair to the overall asset or the acquisition of a new one. Probably too complex for your tv example!


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