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timing of claiming for repairs

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lamentra | 14 Jan 2017, 11:14 PM Agree 0
Hi guys,

I currently own and live in a unit, and have bought a house with the settlement date 17th Feb. I am turning the unit into a investment property, and plan to move into the new house on settlement date.

I have a leaky bathroom basin that needs to be replaced in the unit. The unit will be advertised for rental next week, but obviously the tenant wont be able to move in until after I settle.

My question is - can i claim the expense of replacing the bathroom basin once it's advertised? or can i only claim the expense once the tenant moves in - in which case I will replace it as soon as the tenant moves in.
  • Ardeevee | 16 Jan 2017, 11:38 AM Agree 0
    Hi lamentra,

    Yo should be able to claim the bathroom repairs immediately once your property is available on the market, which is as early as its advertised. By definition from ATO, you will be able to claim deductions on expenses when your property is available for income producing purposes - in your case rental. It doesn't say.. "when your property is rented out.."

    Hope this help.

    Reza
  • Ardeevee | 16 Jan 2017, 11:42 AM Agree 0
    Hi lamentra,

    You should be able to claim your bathroom repair expenses as soon as your property is available for rental - which also include once its advertised.

    By definition from ATO, you will be able to claim deductions on your investment property for the period your property is rented or is available for rent. When you advertised your property, it is available for rent.

    Hope it helps.

    Regards,

    Ardeevee
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