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6 easy tax deductions investors never claim after renovating

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Your Investment Property | 13 Nov 2012, 10:09 AM Agree 0
Home renovations can be a lucrative investment as long as you are fully aware of the extent of your tax depreciation entitlements. Here are the six most overlooked tax deductions you should be claiming when renovating
  • Jim | 13 Nov 2012, 04:03 PM Agree 1
    Investing a small amount in a quantity survey is, in my opinion, as important as getting a building inspection. They both serve very valuable purposes. As a part time tax preparer I know that having a QS will also save you time, money and improve your tax return result through the superior type of information you have at hand. It really is a win-win situation for all concerned, mainly the property owner!
  • Eos Property | 21 Nov 2012, 10:19 AM Agree 1
    Very important people understand the difference between a repair and renovation. Notwithstanding benefits to be gained by renovating Paul's article explains, very well, the depreciation benefits of renovations. Word of caution make sure you know the difference between a repair and a renovation - the two are treated entirely differently by the tax department. It is in your interest to know the difference.
  • PropertyBuzz | 18 Jun 2016, 07:58 PM Agree 0
    Hi, could you pls explain - Retain all invoices and do not claim personal labour costs.

    Thank you.
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