Rental expenses

Rental expenses

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New cold water tank. Is this allowable in rental accounts do we think?

Thanks

Replies (4)

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paddle steamer
By DJKL
29th May 2015 00:07

Was there one before, does it replace existing?

Is it a recently acquired rental property or has the property been in use by the rental business for some time?

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By practiceperson
02nd Jun 2015 20:22

Thanks for your reply. Its a new rental property [not a new property per se] but newly acquired in 14/15 to rent out. Does this mean its not claimable?

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paddle steamer
By DJKL
02nd Jun 2015 22:43

I suspect the key question is was its poor condition ( I presume) reflected in the purchase price? The Home Report may have highlighted and even estimated cost of replacement.

The key is deciding is the cost revenue or capital.

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By fosterben
25th Jun 2015 11:19

Business

Is the property under a business?

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