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Could not claim any depreciation of new flooring? Hypothetical situation, we lease for 1 year and then another 10 months of financial year and in last two months repaint and replace carpets. Actually either way it may not matter because if replacement of flooring is a capital nature and...

Thanks for the reply Appreciate your thoughts

Thanks MRY Interesting, seems to be promising. Do you have any thoughts about the bamboo floor replacement compared to replacing worn carpet. Do you think it might be a capital item as it could be viewd as an upgrade rather than a repair? Thansk Kevin

Why not sell now Thanks Updated case above, did not think it was relevant at first , but to avoid confusion added more information to clarify our situation.

How to maximize tax deductable of home improvements on PPOR-IP Hi there We have a PPOR that we have lived in for 24 years and an IP. We intend to move to the IP, but my wife is not convinced she wants to move. She is prepared to try it for 2 years as long as she has the option to come back...

Maximize tax deductability Ok assume I do minimum now and patch up sun damaged carpet and wait for most of it and do it in the financial year the lease ended. Just guessing regarding amounts but how would these items be treated.1 repairs or assets and depreciated? Eg Plastering 3000...

Hi there Our PPOR is looking a bit dated, but in sound condition, built in 1988, 100 km from Melbourne in a growth corridoor. Summerhill pink bricks with some internal brickwalls, apricot fluff painted wall, and exposed cathedral beams, cedar ceiling and pine ceiling boards in living areas...