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  1. Paul@PFI

    Tax deduction for Repairs/ inspections of a purchased IP

    Its usually the brother in law. Just a few days back I had an very adamant person who insisted that the amount paid on a home loan was the deductible. (P+I) "Been claiming it that way for years. My mate has been doing that way too. ATO hasn't knocked it back. YOU must be wrong. " Guy had...
  2. Paul@PFI

    Tax deduction for Repairs/ inspections of a purchased IP

    100% agree. Every client I have told about initial repairs then asks if they can wait a few weeks then do the repairs. No.
  3. Paul@PFI

    Tax deduction for Repairs/ inspections of a purchased IP

    No to all the above. Its worth finding a good tax adviser so that personal tax advice is always obtained. For example recording the CGT costs so that one day you don't overpay CGT. Also depreciation and Cap Allowance deductions you may miss.
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