Hi,
I've recently purchased a rental property and done some minor DIY maintenance at this property, including things like:
- Installing a small privacy screen - total cost of materials <$300
- Repaint the living room
- Some general maintenance like replacing pad locks, gate locks, replacing rusted screws on the timber deck, sealing various gaps, etc.
- Garden maintenance - cutting back plants and waste removal
- Rubbish removal
I think I can claim these costs as repair and deduct from rental income. But I just want to make sure that they are not considered as initial repair. Total cost of the above is just under $1,400 for all materials.
I also I bought a few power tools and other tools to do these, totalling $500 (on top of the $1,400) with most items cost <$100. I'm not sure what to do with these for tax purpose. It is very unlikely that I will use these for private purposes - I'm not sure whether to depreciate these or to claim the cost as a one-off deduction.
Could you please advise on my situation?
Many thanks!
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1,699 views3 replies
3 replies
1,699 views
3 replies