Carpet replacement and painting job cost for tax deduction

[JohnHenry]

Hi folks,

Is it legally possible for me to claim the Carpet Replacement and the Painting cost of my investment property for tax deduction at the end offinancial year ?

if it is possible I'd like to include the cost of stove replacement and also backyard reworking cost as well.

Thanks

 

[DaveM]

Why did you recarpet and repaint and replace stove? General improvement or fixing after tenant damage?

 

[D.T.]

Was it done upfront at the purchase of the property or once it'd already been tenanted?

 

[Scott No Mates]

All of these items have a defined life except for the garden. The cost will probably need to be depreciated over several years.

 

[dragonface]

Does it make difference if General maintain or improvement? Can you claim one as an expense in one year vs having to deprecate over years?

Clearly expensing in one year is more beneficial if income is well above cut off for top tax rate

Thanks

 

[JohnHenry]

Why did you recarpet and repaint and replace stove? General improvement or fixing after tenant damage?

Recarpet and repainting was due to the water damage, partially covered by the insurance but I just want to do the whole floor carpet replacement as well as the ceiling paint job.

The stove is already broken due to the age (wear and tear).

 

[JohnHenry]

Was it done upfront at the purchase of the property or once it'd already been tenanted?

it was broken during the tenanted period, but now it is vacant.

 

[Terry_w]

Sounds like improvements to me. Depreciation.

The stove could be a repair if you replace it with the same or a lesser model.

 

[marg4000]

Usually carpets and stoves are depreciated.
Marg