Doing tax of course. However I have over 4k of repairs and maintenance so I am being very careful to allocate everything correctly.
Tenant trashed blinds from my reading a deduction for decline in value not repair since I replaced them?
Failed roller door motor - Just motor replaced so it could possibly be classed as a repair but might be safer to use decline in value given ~$800.
Repainting internal damaged and marked walls - maintenance.
Now what has got me curious is this:
If you own a rental property, you may be able to claim a deduction (usually at the rate of 2.5% per year in the 40 years following construction) for the construction cost of buildings.
Since I built this particular property 5 years ago I am wondering if there is a reason it was not included in the original schedule of depreciation by the accountant?
Tenant trashed blinds from my reading a deduction for decline in value not repair since I replaced them?
Failed roller door motor - Just motor replaced so it could possibly be classed as a repair but might be safer to use decline in value given ~$800.
Repainting internal damaged and marked walls - maintenance.
Now what has got me curious is this:
If you own a rental property, you may be able to claim a deduction (usually at the rate of 2.5% per year in the 40 years following construction) for the construction cost of buildings.
Since I built this particular property 5 years ago I am wondering if there is a reason it was not included in the original schedule of depreciation by the accountant?