Repairs v. Replacement - New Directions out of the Quagmire

Authors

  • Frank D. Jones, Q.C.

DOI:

https://doi.org/10.29173/alr1622

Abstract

The article reviews the problematic area in tax law as to whether to characterize an outlay as a "repair", which results in a fall tax deduction for the year of the outlay, or as a "replacement", which allows the amortizement of the outlay over a number of years. Professor Jones then discusses a new way to deal with this problem.

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