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All Topics / General Property / Questions: Renting out our PPoR
Hello,
We are planning on renting out our current home and moving into a bigger home. There are a few repairs/renovations that need to be done , i.e. Retile the bathroom walls, change the Kitchen stove, etc.
My question is are these renovations tax deductible and if so at what point in time can we claim them? If we do these modifications while we are currently living in the home, they would not be tax deductible. So what criteria would the ATO require in order to make it tax deductible?
Any advice is appreciated.
Thanks.
Hi Scheldon,
You will probably find you may be able to claim a portion of the expenses as a capital works deduction.
If you visit the ato web site there is further information there
Cheers
Kym
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