When capitalising an amount for renovations to a home office how do I calculate the amounts?

Repairs and maintenance are amounts that that are spent to "fix" or repair existing structures or features, while improvements are things whereby there is a change or extra feature added that would increase the income earning capacity. So for example, fixing the roof vs adding an extra room. You would need to very carefully work out which is which, ie renovations vs improvements. Only improvements are allowed to be capitalised, where repairs can be written off into the year which they were incurred like normal expenses.

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