1 Exterior paint averages $25-$40 a gallon, and a 3,000-square-foot home takes 15 or more gallons of paint, or $375-$600 just for the paint.
Construction-In-Process (CIP) Assets. A construction-in-process (CIP) asset is an asset you construct over a period of time. Create and maintain your CIP assets as you spend money for raw materials and labor to construct them. Since a CIP asset is not yet in use, it does not depreciate and is only in the corporate book.
For businesses and employers. Depreciation recovery. When you cease a business, sell or dispose of a business asset you must make an adjustment in your end of year tax return to account for the gain or loss. A gain is included as gross income and a loss (except buildings) as an allowable deduction. From the 2011-12 income year, many buildings can no longer be depreciated.