Hi All,
I haven't bought a house yet, but I am looking and just
wondering this:
If I buy a house and I make some improvements
(new carpet, new kitchen etc) before I rent it out what depreciation can I claim?
I having been reading the posts on the forum and I
have learned, it is a good idea to get a QS report before and
after the reno's. But, the thing I am not clear about is
how is it you can claim those new items when they are improvements not repairs? Since, I thought you could only claim repairs as a tax deduction.
Roz.
I haven't bought a house yet, but I am looking and just
wondering this:
If I buy a house and I make some improvements
(new carpet, new kitchen etc) before I rent it out what depreciation can I claim?
I having been reading the posts on the forum and I
have learned, it is a good idea to get a QS report before and
after the reno's. But, the thing I am not clear about is
how is it you can claim those new items when they are improvements not repairs? Since, I thought you could only claim repairs as a tax deduction.
Roz.