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Hi Many thanks for the clarification. Amazing to think that the words that I quoted, "If renovations are undertaken soon after purchase, the tax office deems them as having no value." come from a leading Property Investing magazine. Hence the reason that I included the source...

Hi I note that smartor mentioned, "I bought a one bedroom apartment which settled in January this year. I'm currently renovating the kitchen.." I understood that the rule was "If renovations are undertaken soon after purchase, the tax office deems them as having no value." Source...