A new deduction for capital expenditure incurred by a lessor on replacing domestic items, including furniture, furnishings, household appliances and kitchenware, provided for the use of a lessee in a dwelling house replaces the wear and tear allowance. The change means that a deduction will only be available for actual expenditure incurred.

In order to qualify for the deduction, conditions A to D must be met:

Condition A is that a person or company carries on a property business that includes a dwelling-house.

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