I am planning to move out of my current property and convert it into an investment property. Before renting i wanted to install Aircon. Do i install it before converting it into an investment property or Do i wait for tenants to move in and then install the AC. In this scenario can i claim this under maintanence Look forward to your help. What is the suggested approach
Of course it makes a difference. The asset begins to depreciate from the moment it's installed and ready for use. The period for which it is still your home until it is avaliable to rent will not be deductible, even though the depreciation clock is ticking. So you effectively loose that claim.. The property does not have to be rented, but it does have to be avaliable for rent, so I would instal it as soon as you lost it with the agent..