Capital gains

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33 Points Posted on 06 April 2021
If some depreciable asset got damaged and I have received an insurance claim for that then what should be the COA for such depreciable asset???
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On 06 April 2021 at 17:58 Report
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This discussion clarifies the correct Cost of Acquisition (COA) for depreciable assets that have been damaged and for which an insurance claim has been received. Participants suggest considering the depreciable amount, the original cost of acquisition, the opening written-down value (WDV), or the carrying amount as the appropriate COA in such scenarios.

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2742 Points Posted on 06 April 2021
Coa is depreciable amount
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On 06 April 2021 at 18:19
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Chartered Accountant
24588 Points Posted on 06 April 2021
Cost of acquisition will be the cost of the asset
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On 06 April 2021 at 18:45
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166 Points Posted on 06 April 2021
I think cost is the opening wdv of such asset
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On 06 April 2021 at 23:47
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Chartered Accountant
24588 Points Posted on 07 April 2021
Yes the carrying amount
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On 07 April 2021 at 06:20

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