Hi. I have a rental property that I have been refreshing/ repairing between tenants. The vanity in the bathroom was in poor condition and I have replaced it with a free standing model purchased at Bunnings. Is this considered a repair? It was relatively inexpensive...
Hi @forbesmob
We often get questions for rental properties, what can be claimed and how.
If you replaced the old vanity for a new and improved one, this would be an improvement. As a new depreciable item you can add it to your depreciation schedule and claim it over it's effective life. If it cost less then $300 you can claim it as an immediate deduction. For the old vanity you may need to do a balancing adjustment.
You can also refer to our website Rental properties 2022 this will also help with how to treat rent and rental related income and expenses.
Hi @forbesmob
We often get questions for rental properties, what can be claimed and how.
If you replaced the old vanity for a new and improved one, this would be an improvement. As a new depreciable item you can add it to your depreciation schedule and claim it over it's effective life. If it cost less then $300 you can claim it as an immediate deduction. For the old vanity you may need to do a balancing adjustment.
You can also refer to our website Rental properties 2022 this will also help with how to treat rent and rental related income and expenses.
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