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Bruce4Tax(Taxicorn)Taxicorn
3 Dec 2022

Can I claim for the replacement items and repairs once I have rented it out if it is in the same tax year?


Repairs = no because property has not earned income yet. Cannot add to your CGT cost base, because your CGT cost base = market value on day first rented.


Aircond = depn item if installed after the property ceases to be your main residence. If so, then depn starts on the day rent starts.


If installed while still main residence, then no claim at at all.


https://taxbanter.com.au/residential-rental-properties-depreciation/


It is still worth getting a quantity surveyor report to make the capital works claim.


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RE: Can I claim a tax deduction if I replace broken appliances just prior to renting out my property? | ATO Community