Subject: Clarification on Tax Treatment for Investment Property 2023-24
Dear ATO Help,
I am seeking clarification on the following matters regarding my investment property for the 2023-24 tax year:
1. Replacement of Kitchen Cabinet Doors and Drawers:
- I replaced kitchen cabinet doors and drawers in the property. Most of them were water-damaged, while remakings were broken due to tenant mishandling.
- Could you please confirm whether these replacements should be classified as repairs and maintenance or if they are considered capital works?
2. Replacement of Vertical Blinds:
- I replaced vertical blinds in the property, which were not originally built with the property.
- Over how many years should these blinds be depreciated?
3. Replacement of Loop Pile Carpet:
- I replaced the loop pile carpet in the property.
- Could you please confirm the effective life and depreciation rate applicable for this type of carpet?
The property is 18 years old.
Thank you for your assistance.
Best regards,
Kef
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