Making Major Repairs or Improvements to Rental Property?
If you are thinking about or are in the process of making large scale repairs and/or improvements to your rental property there may be tax implications surrounding the deductibility of the costs. In most cases any improvements will be capital in nature and not a deductible expense under repairs & maintenance. In some cases they may not be subject to depreciation either.
Please contact us for advice on how best to maximise your claim if this may affect you.