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IP to PPR and buying white goods
Are you saying the date the Investment property reverts to a PPR you loose all depreciation deductions on assets (depreciation would be calculated pro rata for the year) but expenses claimed within the financial year to June 30 are OK. eg fumigation, fixing leaking taps or repairing holes...- redsquash
- Post #6
- Forum: Accounting and Tax
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IP to PPR and buying white goods
I expect my IP will revert to my PPR in early 2011. The white goods, air-conditioner curtains and carpet need replacing. The house has been an IP for many,many years and is looking warn.Things are wearing out. The garden needs massive attention and maintenance, Can I deduct 100% of...- redsquash
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- Replies: 5
- Forum: Accounting and Tax