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Where Taxpayers and Advisers Meet

AIA confusion

artzahar
Posts:1
Joined:Mon Mar 20, 2017 1:26 pm
AIA confusion

Postby artzahar » Mon Mar 20, 2017 1:31 pm

Hi,

Was wondering if I could claim AIA for a fuel tank and associated parts. We are building tank farm and the expenditure will be spread into two financial years. I was wondering if we could claim 200k for both years? Or is it considered as asset under construction? If say, one fuel tank will complete construction in one year hence we can claim AIA for that tank right?

On a different note, are fees relating to the assets allowed for AIA claim? Such as engineering fees etc

Thanks

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