Hi,
I seem to be getting conflicting advice from my accountant and ATO website. I rented my property until the Jun 23, 2024 as I decided to sell. It hasn’t sold as yet, but I have had some repairs to make i.e repair some water damage, new benchtop, cooktop, floor etc. I did buy some of the items prior to my renter leaving, but majority has been after, both in last tax year and current tax year. When I sent my information to the accountant for last tax year, I said that I assumed I can’t claim these expenses as I am selling rather than continuing to rent the property. She said ‘You certainly CAN claim repairs prior to sale - I will include them in the Capital gains calculation’. From all I have read on the ATO site that doesn’t sound correct. If its not, am I able to claim expenses for things purchased while my house was rented and does this form part of the CGT calculation as the accountant stated or should these be part of the repairs and maintenance for last tax year? Any help would be greatly appreciated (I hope that is not too confusing).
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