Investment properties transfer question

Hi,

I tried the search function, but didn’t find anything that answers my question.

Could you help with my understanding of revaluation of a property asset please that has been transferred to investment property?

My understanding is I can use F.V. revaluation under IAS 16 to account for the revalued asset.

E.g. originally, property worth $15k with a useful life of 15 years, depreciated after 2 years to $13k, but at end of year 2, revalued to $20k. Therefore asset debited by $7k in SOFP, credit against depreciation charge in income statement of $2k and remaining $5k is credited in revaluation surplus in O.C.I.

However, my study text gives me the following example:

Cost of property (used as HQ for business) $250k in 1/1/X0 with 50 years U.E.L.
Change in use @ 30/6/X9 – transfer to investment property
F.V. @ 31/12/X9 is $350k

Therefore:

Cost: $250k
Dep’n: ($47.5k) [9.5yrs * $250k]
Carry amt: $202.5k as at 30/6/X9
Reval: $147.5k
F.V.: $350k as at 31/12/X9

Why does the full amount of $147.5k go to the revaluation surplus and not $47.5 against the depreciation charge and $100k to the revaluation surplus? What have I missed?

Many thanks.