Name and briefly explain items which may be included in the qualifying expenditure for the purposes of investment deductions.

The items to be included as qualifying expenditure include:

• Buying price of the asset
• Any customs duty and Vat paid on the asset
• Installation costs
• Insurance on transit and transport costs before the asset is brought into use
• Cost of demolition of a building to accommodate the asset
• Any repair cost incurred before the asset is brought into use
• As a rule, any incidental cost incurred before the asset is brought into use is a qualifying expenditure.