Before I go talk to my accountant has anyone knowledge on the following:
Re: development infrastructure that is subsequently handed over to local authorities, eg. sewer lines and roads
Are these depreciated like the rest of the construction or do you write them off because you no longer own them?
Thanking you in anticipation.
Graeme
‘Handed over’ – you no longer own them or are responsible for their upkeep.
Yes, this is true. Handed over does mean you no longer own them or are responsible for their upkeep. No we've established that are they written off or depreciated?
Write it off, you have ‘contributed’ or given these to the authority & you take the hit.
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