is replacing tenant damaged carpet flooring with a floating timber flooring a repair?

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 · Accepted Answer

GabbyATO · Answer

Replacing the damaged flooring would be considered a repair. For the portion of the flooring that has not been damaged, this would be considered a depreciating asset. This quick reference chart on rental property expenses (https://www.ato.gov.au/uploadedFiles/Content/IND/Downloads/TaxTimeToolkit_Rental-repairs.pdf) goes through examples for how you should claim and report these expenses on the rental schedule.

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