Cladding...can i claim it?

[jos]

Hello again

I am new to investing..... i recently cladded my my investment property, originally when i bought the place, the last owner had removed all the timber showing the joint of the fibre on the exterior and left it as is..... being a 40+ year old house, i am assuming theres no insulation in the walls so i decided to clad the house for better insulations and stop any water leak into the house between the gaps, i know i could have chosen the cheaper option which is to nail some timber between the fibre joints but cladding makes the house look cleaner and better my chances of the getting tennants also its more appealing to potential renters.

I paid a fair bit of money for the cladding so i like to know from the experts ;-) whether i can claim it back on my investment property or not ???

*For those that don't what cladding is...... it is multi layers of script made out of vinyl and foam in the inside that covers the whole surface of the exterior and for those DIY people out there thats wanting to do this to their house i can give you some advice, its a pretty straight forward job*

 

[craigb]

if that is what you need to run your buisiness , then yes but i am not an acct?

 

[Perp]

It's a capital item that adds to your depreciation schedule. So you can't claim 100% as an expense in the year that you do it, no, but you can claim a small percentage each year as an expense, and it affects your cost base for CGT purposes.