I was planning to buy an investment property, either lease it out or renovate and resell it. I found a property, due to settle in 2 weeks, but i like it so much, because there are a lot of native birds on the property, and it is sooooo lovely.
If I do not see it for a few days I start to miss it…. I decided to have it as a weekender…
Will I be able to claim expenses as an investment property even if I use it as a weekender ?[blink]
I beleive you can claim expenses if you are trying to rent out the property but cannot find tenants.
Terryw
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If the property is a ‘weekender’ the answer is no. You are allowed to claim if you are looking for a tenant but this, clearly, is not the case. If you rent it out on a casual basis you can deduct expenses related to that period only.
Use it and enjoy it as a weekender. The time may come that you grow tired of this and you eventually rent it out and are able to deduct some depreciation etc. so keep track of expenses.
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