All Topics / General Property / Unusual Deductions

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  • Profile photo of Mick INCMick INC
    Member
    @mick-inc
    Join Date: 2003
    Post Count: 43
    January 30, 2004 - 2:50 pm

    Hey guys

    I currently own 4 IP’s which I manage myself, I also do all of the maintenance and most of the improvements.
    What I’m asking is can I depreciate lawn mowers, chain saws, power tools or hand tools etc that I use to maintain and improve these IP’s. Also can I claim consumerables such as lawn mower blades, drill bits, screws, nails etc. What about servicing the lawn mower, edger etc????

    Just wondering if anyone knows.

    PS Of course I will check with my accountant later to confirm

    Mick

    Profile photo of JuliaJulia
    Member
    @julia
    Join Date: 2004
    Post Count: 217
    January 30, 2004 - 3:00 pm

    Mick,

    You can claim for these but you may have to apportion the expense for any business use. I have a free booklet on rental properties if you are interested.

    [email protected]

    Profile photo of Mick INCMick INC
    Member
    @mick-inc
    Join Date: 2003
    Post Count: 43
    January 30, 2004 - 3:20 pm

    Thanks Julia, I would love a copy of that free booklet.
    I’ll PM you my mailing address.

    Cheers[^]

    Mick

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

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