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From: David Corey
Can anyone help and answer me this.
I have three other I.Ps. I have placed a deposit on two more. I have not made settlement on either at this time (expected on 5th July 02, Next fiscal year. One of the houses is a reno with approx $25.000 to be done. I have a month off work and want to start the work now. I am sure that settlement will happen, so not worried about doing work for nothing if the vendor pulls out. Now the question, because I am already into I.Ps, can I claim my taxation deductions in relation to the reno, even though I have not made settlement on it.I consider I am already in the business so I can claim. Any one know?
David Corey
ALICE SPRINGS
Can anyone help and answer me this.
I have three other I.Ps. I have placed a deposit on two more. I have not made settlement on either at this time (expected on 5th July 02, Next fiscal year. One of the houses is a reno with approx $25.000 to be done. I have a month off work and want to start the work now. I am sure that settlement will happen, so not worried about doing work for nothing if the vendor pulls out. Now the question, because I am already into I.Ps, can I claim my taxation deductions in relation to the reno, even though I have not made settlement on it.I consider I am already in the business so I can claim. Any one know?
David Corey
ALICE SPRINGS
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