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Annoymous1234(Dynamo)Dynamo
2 Nov 2022

Hi,

I have an investment property and I am thinking of upgrading the kitchen and doing a small extension. I was wondering will I be able to claim this as a deduction in my tax return it looks like the renovations may cost anywhere between 35-70K


looking for some guidance


Thanks in advance



2,092 views
3 replies
2,092 views
3 replies

Most helpful response

Most helpful reply

Bruce4Tax(Taxicorn)Taxicorn
3 Nov 2022

Not a repair, so not 100% deduction.


Most of the cost may be capital works = 2.5% per annum claim.


Some items can be claimed under depn rules.


You need to talk to your tax agent about all this.


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