A
Anonymous
Guest
From: Anonymous
Hello all,
Last year, my wife and I bought a unit which was built in the 1970s. We are currently living in the unit and paying off the mortgage. This year we have renovated the bathroom & kitchen (they are now brand new).
In the future we plan to move on to buy and live in a house. At that point we will rent out the unit we are currently living in. My question is - once we rent out the unit will any of the renovations we have done be tax deductible in any way , say depreciation? Should we have some sort of evaluation done now?
Cheers
Andrew
Hello all,
Last year, my wife and I bought a unit which was built in the 1970s. We are currently living in the unit and paying off the mortgage. This year we have renovated the bathroom & kitchen (they are now brand new).
In the future we plan to move on to buy and live in a house. At that point we will rent out the unit we are currently living in. My question is - once we rent out the unit will any of the renovations we have done be tax deductible in any way , say depreciation? Should we have some sort of evaluation done now?
Cheers
Andrew
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