As a business owner, which capital allowances am I entitled to on buildings that I use in my trade, if any…?
Section 13: Allowance on manufacturing buildings
In order to qualify for this allowance, the building has to be used solely or mainly (>50%) for manufacturing purposes and 100% for trade purposes.
The taxpayer claiming the allowance can either be the lessee or the owner of the building, one does not need to own the building in order to receive this allowance. Either the lessor or the lessee can receive the allowance, as long as only one of them are claiming it.
The building must either be purchased new and unused or was developed by the taxpayer himself or it was purchased second hand from somebody else who previously was allowed the section 13 allowance.