All Topics / Legal & Accounting / Solar Hot Water and Water tank pump deduction?

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  • Profile photo of balniksbalniks
    Participant
    @balniks
    Join Date: 2006
    Post Count: 31
    July 17, 2012 - 8:14 pm

    Hi there,

    Looking at "greening" up an investment property. Putting a solar hot water system in and also getting a pump and plumbing it to the toilet and laundry.

    Can i claim the installation costs up front? If so, what would it be classed as? And i'm guessing the pump and solar system would just be depreciable?

    Thanks,
    Michael

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    July 17, 2012 - 9:39 pm

    Sounds like a capital expense to me and therefore only can depreciate.

    What are they worth?

    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

    Profile photo of balniksbalniks
    Participant
    @balniks
    Join Date: 2006
    Post Count: 31
    July 18, 2012 - 3:28 am

    The pump and panels with tank probably only $1000 after rebates.

    But install of each will be approx $1500, that was what i was more hoping to claim straight away, the "labour"?

    Thanks
    Michael

Viewing 3 posts - 1 through 3 (of 3 total)

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