claiming investment expense receipts and names.

When claiming investment expenses wether it's an expense or reno for cost base capital gains, do the receipts need to show the investment address?
I've purchased new floorboards for a quick Reno for my investment I'm selling soon, but my receipt is showing the address of my current home as this is what the company asked for, not the investment. Does this matter?

And second question...
My mates a builder who's also doing some paid work for me which includes the install. I'm paying him to buy some other materials for works around the house and he's using his trade discount account, if he uses his trade account and it's indicating his name does that mean I can't use the reciepts? If not I'd rather not use his trade discount so I can claim the receipts.

Thanks

 

No. However the ATO could have a concern that the materials were not used in the IP but your own home. They could chase further evidence to see if you are padding costs. A recent ATO case found a HWS charge paid by a REA was installed at the landlords own home. The ATO know taxpayers do this and look for signs. eg Two HWS installs in 2 years might raise a concern. I believe thats how this one got identified.

If he raises a charge to you for those materials then you will have a receipt / invoice that he issues. You dont need his receipts. His will likely show "supply and install".....The ATO would want to see that paperwork ONLY and proof it was paid.

 

Just think if audited how can you show proof to the ATO.

 

Excellent, than you gents