Rehabilitation allowance: deduction for re-established industrial undertakings after destruction, subject to statutory withdrawal and conditions. Rehabilitation allowance permits a deduction when an industrial undertaking discontinues business due to extensive damage or destruction of assets from ... Summary
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Rehabilitation allowance: deduction for re-established industrial undertakings after destruction, subject to statutory withdrawal and conditions.
Rehabilitation allowance permits a deduction when an industrial undertaking discontinues business due to extensive damage or destruction of assets from specified catastrophic events and the business is re-established within three years; the allowance equals sixty per cent of the depreciation deduction otherwise allowable in respect of the damaged or destroyed assets for the year of re-establishment.
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