Dear all,
I am currently renting and own two IPs. Due to some change in circumstances, I have to move into one of the IPs I bought in March 2015.
Just a few questions for you all:-
1) I paid the full stamp duty when I purchased this IP in March 2015. I plan to move in latest September 2015 or earliest in July. This place will become my PPOR for the next couples of years. Would I be able to get some of the stamp duty back?
2) I haven't got a depreciation report for this particular IP. And I plan to do some renovation of the kitchen and bathroom after I move in, but the renovation won't happen after the financial year ends. Should I get a depreciation report before and after renovation so the time between March and June 2015 are captured?
3) I am planning to rent out one room, am I entitled to a portion of tax benefits including the cost I will pay towards the renovation in the next financial year?
Thanks for your time
Kingsley
I am currently renting and own two IPs. Due to some change in circumstances, I have to move into one of the IPs I bought in March 2015.
Just a few questions for you all:-
1) I paid the full stamp duty when I purchased this IP in March 2015. I plan to move in latest September 2015 or earliest in July. This place will become my PPOR for the next couples of years. Would I be able to get some of the stamp duty back?
2) I haven't got a depreciation report for this particular IP. And I plan to do some renovation of the kitchen and bathroom after I move in, but the renovation won't happen after the financial year ends. Should I get a depreciation report before and after renovation so the time between March and June 2015 are captured?
3) I am planning to rent out one room, am I entitled to a portion of tax benefits including the cost I will pay towards the renovation in the next financial year?
Thanks for your time
Kingsley