Hi Jamie,  I'm in Adelaide 

Thanks Terry, I already asked my accountant, but he was a bit vague with his answer, and I got the impression that he wasn't really too sure, hence me posting on the forum. I might have to try to pin him down on the answer.  Cheers

The area that my potential job is located in Bristol is the suburb/area of Clifton, which coincidentally seems to be the most expensive. It seems that for a 2 bedroom flat in a Terrace, the starting point is about 250k GBP and terraced houses start at about $375K GBP for a shoebox. Ian, Do you know much about the surrounding areas – any re…[Read more]

Hi, The ATO website states that:Claiming deductionsAs with any rental property, the costs you incur when your home is rented out, such as repairs and maintenance, are deductible even though you are claiming the main residence CGT exemption.You need to keep accurate records and remember, you cannot claim:an immediate deduction for initial repairs,…[Read more]

Thanks for your replies v8ghia and TerryWI can probably avoid using the LOC for private expenses as you suggest. I spoke to my accountant today and he said that I could still claim deprecation on costs of renovating the PPOR prior to rental, but the thought also occurred to me to list the place for rental prior to commencing work to be on the safe…[Read more]

Hi DHCP, Thanks for the sound advice  – a very thorough approach!

Thanks a lot for the information, Terry.