All Topics / General Property / Addon – Insulation. Can it be claimed?

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  • Profile photo of Lawry73Lawry73
    Member
    @lawry73
    Join Date: 2003
    Post Count: 123
    October 8, 2003 - 11:08 am

    Hi all,

    I’m now living in a townhouse (Owner-Occupied) with no insulation.
    I have decided to put insulation before summer hits.

    I plan to move out of here in 2 year’s time and rent the townhouse out.

    Will I be able to claim part of the cost of putting this insulation after turning it into rental property?
    If so, I should keep the receipt.

    Appreciate that.

    Admin: If this is not appropriate for this forum, please move it to the appropriate one. Many thanks.

    Please advise.

    Profile photo of AdministratorAdministrator
    Keymaster
    @piadmin
    Join Date: 2013
    Post Count: 3,225
    October 8, 2003 - 12:44 pm

    It’s probably a capital expense Lawry, ie it will probably be depreciable at only 2.5%, but you’d have to check with a Q/Surveyor. It wouldn’t be claimable as a repair. Keep your receipt forever, as it adds to your cost base.
    Jim.

    Profile photo of Lawry73Lawry73
    Member
    @lawry73
    Join Date: 2003
    Post Count: 123
    October 8, 2003 - 12:53 pm

    Hi Doogs,

    Thanks for that.
    At least, it looks like it is depreciable.

Viewing 3 posts - 1 through 3 (of 3 total)

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