Hi Everyone,
Scenario:
Bought an investment in QLD, performing some renovations to improve rental.
* Replacing Bathroom
* Replacing Doors, door handles
* Installing dishwasher
* Tiling living areas
Question:
* The renos have taken a couple of weeks during which I have paid interest. Is this interest tax deductable?
* The costs for renovation, I plan on doing a depreciation report before EOFY however wondering, when it comes to capital costs vs depreciatable items, should I be itemising my invoices to and removing all depreciatable items with the remainder being capital costs? Any advise on the items above?
Cheers!
Cheers,
Scenario:
Bought an investment in QLD, performing some renovations to improve rental.
* Replacing Bathroom
* Replacing Doors, door handles
* Installing dishwasher
* Tiling living areas
Question:
* The renos have taken a couple of weeks during which I have paid interest. Is this interest tax deductable?
* The costs for renovation, I plan on doing a depreciation report before EOFY however wondering, when it comes to capital costs vs depreciatable items, should I be itemising my invoices to and removing all depreciatable items with the remainder being capital costs? Any advise on the items above?
Cheers!
Cheers,