air bnb start up renovation expenses

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 · Accepted Answer

DanielleATO · Answer

That's great that you have a general understanding when it comes to renting out your home through Air BNB. We had another community member answer a similar question (https://community.ato.gov.au/s/question/a0J9s000000THVbEAO/p00243696) when it came to Air BNB and expenses. The renovations you are referring may fall into capital works (https://www.ato.gov.au/Individuals/Investments-and-assets/Residential-rental-properties/Rental-expenses-to-claim/Rental-expenses-you-claim-over-several-years/?anchor=Capitalworks#Capitalexpenditure). You can only claim a deduction for the capital works (https://www.ato.gov.au/Individuals/Investments-and-assets/Residential-rental-properties/Rental-expenses-to-claim/Rental-expenses-you-claim-over-several-years/Work-out-your-capital-works-deductions/) on rental properties if the property: - was built after 17 July 1985 - is rented or genuinely available for rent. There is more information about holiday homes (https://www.ato.gov.au/Individuals/Investments-and-assets/Holiday-homes/) that you may find helpful.

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