I recently acquired another IP and have been getting some quotes for various work (plumbing/electrical). One of the tradespeople asked me if I was able to pay cash. Sorry for the naivety of this question but does this imply that they will not be supplying a valid tax invoice?
I won't be able to claim deductions for this work as the property hasn't generated any income yet however I think these expenses can be treated as a capital expense for future CGT calculations?
Thanks,
PD
I won't be able to claim deductions for this work as the property hasn't generated any income yet however I think these expenses can be treated as a capital expense for future CGT calculations?
Thanks,
PD