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  1. Paul@PFI

    Claim House as an IP after 6 months spent on reno?

    This is a issue that happens. If Owner 1 does a reno and doesnt have a schedule (PPOR) and Owner 2 comes along and gets a schedule those works get "valued" and factor into the schedule. Owner 1 may have been a builder or may have been a DIY master and completed work for well below cost. Or...
  2. Paul@PFI

    Claim House as an IP after 6 months spent on reno?

    Not true. They estimate others construction costs. It's a good strategy to get a new schedule sometimes without Ka build. You thinking like an accountant that a deduction comes from a cost. Write off's and losses and deductions don't always need a spend
  3. Paul@PFI

    Claim House as an IP after 6 months spent on reno?

    The tax issues arent quite as black and white as some have posted. 1. Provided you did not own another main residence during that 6 months you can claim that it is your MR. You and your spouse cant each have a MR however ! Its an election (choice)- You would lose MRE on your home and gain MRE...
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