Can the investment allowance be applied to real-estate, and then the deductions carried forward into consecutive years?
Unfortunately real estate does not qualify for the investment allowance. Only assets that are tangible assets, and which qualify for depreciation under Division 40 of the tax act, are eligible assets. Where the investment allowance claimed causes a tax loss in the current financial year, then that loss should be able to be carried forward to be offset against future years income.
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