Rennovating and travel expenses

[strongy1986]

During the year we have rennovated two properties, both interstate.
One has never been rented (was unrentable) the other was a property we have previously rented
Is this correct - property that has not been rented - travel expenses cannot be claimed? Do they add to the cost base of the property?
I have looked at steeles case and it appears I can claim interest exp and council rates. Could travel expenses fall under this as well or am I dreaming?

Property that has been rented - can claim expenses, what about meals though?

Thanks

 

[Paul@PFI]

The property that has never been rented - The travel expenses are capital and preliminary to assessable income. If incurred pre-purchase its also not capital expense either. No deduction. Costs after you choose to rent it become deductible. Typically a agents agrreement etc evidences this intent. The work you did is eligible for capital allowance and depreciation. A QS report that include the cost of this work ?? If not, actual cost is used.
Deductibles include interest plus rates + land tax. This assumes that your intention is to rent that property. If its to be sold NO COSTS may be deductible and no capital gain.

Travel for existing IP- Depends on duration of travel and distance etc. Maybe apportionment. No meals - That is private.