All Topics / Help Needed! / Is initial repair fees tax refundable?

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  • Profile photo of hh2019hh2019
    Participant
    @hh2019
    Join Date: 2019
    Post Count: 0
    October 10, 2020 - 4:14 pm

    I bought a house and soon signed a rental contract. Before tenants move in I did some maintenance to the house including new air con and shower etc.

    Some people say this is initial repair before rental and its fees can not claim for tax refund or depreciation, it can only be considered when I sell the investment property.

     

    Is it correct?

    • This topic was modified 3 years, 6 months ago by Profile photo of hh2019 hh2019.
    Profile photo of crjcrj
    Participant
    @crj
    Join Date: 2004
    Post Count: 618
    October 10, 2020 - 7:09 pm

    Cannot claim as a deduction might be capital works or depreciation. Talk to your accountabt

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    October 12, 2020 - 10:58 am

    Yes initial repairs are not deductible. But you might be able to ‘depreciate’ them.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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