公司在经营过程中，除承担现有业务的拓展或维护费用外，还承担交易数量。纳税义务人可以要求扣减因营业需要支出的税款。但是，用于收购资本资产的金额不能作为费用。折旧所需申报的金额取决于资产的使用年限。运输、安装等额外费用可以在计算额外工厂成本时计入(Australian Government Australian tax Office, 2016)。
The ABC Company is currently growing and it is expected that an additional factory will need to be built to meet product demand at a cost of $500, 000 in the next five years. The directors wish to recognise an expense of $100, 000 and a liability (provision for future expansion) for each of the next five years.
While running the business, the company undertakes number of transactions besides spending the amount for the expansion or maintenance for the existing business. The tax payer can claim the deductions for the amount expended for the business purposes. However, the amount spent towards acquiring capital assets cannot be claimed as expense. Such amount required to be claimed as depreciation depends upon the useful life of the asset. The additional expenditure towards transportation, installation etc can be included while calculating the cost of additional factory (Australian Government Australian Taxation Office, 2016).
The claim of total capital expenditure in the same year is not possible and it can be claimed over period succeeding years. The examples of capital assets include plant and equipment, motor vehicles, improvements to other capital assets, computers etc. Some of the assets life may be five years and some assets may lapse even three years. Based on the useful life, the depreciation is claimed say 5 years, 3 years etc. However, the small business can claim entire cost with the same year if the cost is less than $1,000.