You can claim the Structures and Building Allowance on:
- Construction costs for an entirely new commercial property / structure that did not previously exist
- Costs related to the renovation and conversion of existing buildings or structures.
However, you cannot claim it on the following:
- The cost of acquiring the land itself.
- The cost of purchasing an existing building or structure from a previous owner.
- Expenses incurred in seeking planning permission.
- Costs related to reclamation and landscaping.
The Structures and Building Allowance specifically applies to the construction, renovation, or conversion costs associated with qualifying new non-residential structures and buildings.
For professional advice from a tax adviser, please feel free to get in touch with us.
