Hi, I have an 8 bedroom house IP which i rent to eight individuals and self manage. It is positive cash flow and I really want to maximise my tax deductions on it and have the following questions
1) I pay one of the tennants to clean the house weekly and mow lawns monthly- can i claim this as tax deduction? If so what documentation do i need to prove the payments to the tennant are legitimate?
2)I have filled the house with second hand items brought from garage sales- what documentation do i need to tax deduct their individual purchases?
3) given everything in the house is second hand can I still claim depreciation costs?
thanks guys
1) I pay one of the tennants to clean the house weekly and mow lawns monthly- can i claim this as tax deduction? If so what documentation do i need to prove the payments to the tennant are legitimate?
2)I have filled the house with second hand items brought from garage sales- what documentation do i need to tax deduct their individual purchases?
3) given everything in the house is second hand can I still claim depreciation costs?
thanks guys