Posts Tagged ‘renovation’
ARE REPAIRS TO MY RENTAL PROPERTY TAX DEDUCTIBLE?
Are repairs to my rental property tax deductible? It’s a question nearly every landlord asks at some point – usually right after a tenant calls about a leaking roof or a rotten deck. The honest answer has always been “it depends,” but Inland Revenue has just made it a lot clearer exactly what it depends…
Read MoreREPAIRS TO NEWLY ACQUIRED ASSETS: WHAT’S TAX DEDUCTIBLE?
Repairs to newly acquired assets: what’s tax deductible? When acquiring an asset – including rental property – it’s common to incur repair costs to bring it up to a usable standard. But can those costs be claimed? The Inland Revenue Department (IRD) has released updated guidance on the subject, including a “Question We’ve Been Asked”…
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