The info does help heaps,

Unfortunately I was hoping that renovating the unit could be tax deductable and I would be slightly dodging up the system but unfortunately from what you have said this is not the case.

Thanks heaps for the posts.

Thanks HEAPS for the reply,

Does this mean I could get the first home buyers grant live in it for six months (or twelve which I think is what is required for the first home buyers grant) do minimal renovations (not tax deductable).

Than rent it to my girlfriends sister at a reduced rate, keeping records of her renting & than renovate claiming…[Read more]