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From: James Wallner
Dear Investors,
No doubt a simple question for those that don't spend all day being a vet, but.....
I have just exchanged on my first IP in Canberra. In the weeks leading up to settlement I wish to improve the garden and paint a few rooms, before I put in tenants. What is the tax situation regarding my expenditure on things like, repairing an existing watering system, mulching and simple plantings, and painting a room. All this is prior to me officially owning the property.
Many thanks to all the experts.
James
Dear Investors,
No doubt a simple question for those that don't spend all day being a vet, but.....
I have just exchanged on my first IP in Canberra. In the weeks leading up to settlement I wish to improve the garden and paint a few rooms, before I put in tenants. What is the tax situation regarding my expenditure on things like, repairing an existing watering system, mulching and simple plantings, and painting a room. All this is prior to me officially owning the property.
Many thanks to all the experts.
James
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