When does painting become maintenance?

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From: Miakat .


Hi all,

Have just exchanged on IP #2 (Yay!). It needs an external paint job. I know if I paint it straight away, I can't claim it as maintenance as it would be capital improvement. Does anyone have experience on how long I need to wait to claim it as maintenance?

Thanks in advance.

Miakat
 
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Reply: 1
From: Dale Gatherum-Goss


Hi

There is no set time, but, I normally recommend the next financial year after you bought the property. This way, we can "blame" the tenant and thus justify the repairs.

I hope that this helps

Dale
 
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