Search results

  1. Perp

    Tax on Rental income

    You may get away with replacing the stumps as a repair, if you replace "like with like", eg timber stumps of a certain height with new timber stumps of a comparable height. But yes, the rest sounds like improvements.
  2. Perp

    Tax on Rental income

    Nah, that's an improvement, because being bricked up was a deliberate decision to change the property's qualities; not due to "wear and tear". Unclogging alone, yes... that's maintenance. Removing the bricks to restore the fireplace - improvement.
  3. Perp

    Tax on Rental income

    You can do that???? :confused: :D Seriously, I can't imagine ever having enough cash that I'd invest unleveraged. The opportunity cost of all that lazy equity would kill me. At the very least, buy it with an 80% loan, and have 80% cash sitting in the offset, so you don't pay any interest...
  4. Perp

    Tax on Rental income

    Because painting has to be re-done periodically, my understand is that it's maintenance and always immediately deductible. No, nearly everything you mentioned would be classed an improvement. A repair just restores things back to original condition. Any change is usually an improvement. Here...
Back
Top