From: Felicity W.
Hi all
Recently I attend a Peter Spann introductory night, and one of the things he talked about was giving properties a face lift and then claiming the costs.
I'm confused at this point - I thought capital improvements couldn't be claimed, only repairs? Or am I thinking of deductions? Is it a case of claiming the renovations through depreciation?
Both my IP have been new and I haven't had to worry about this one - just about getting the depreciation schedule out of the builders ;-)
Keep smiling
Felicity
Hi all
Recently I attend a Peter Spann introductory night, and one of the things he talked about was giving properties a face lift and then claiming the costs.
I'm confused at this point - I thought capital improvements couldn't be claimed, only repairs? Or am I thinking of deductions? Is it a case of claiming the renovations through depreciation?
Both my IP have been new and I haven't had to worry about this one - just about getting the depreciation schedule out of the builders ;-)
Keep smiling
Felicity
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