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Repairs under $300 PA?

Discussion in 'Accounting & Tax' started by smallbuyer, 1st Oct, 2015.

  1. smallbuyer

    smallbuyer Well-Known Member

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    Hello,

    I have read somewhere that claims of $300 or less for repairs and maintenance per property per year don’t even get looked at or checked by the ATO? Presumably you don’t need to keep receipts if this is the case. Can anyone confirm this or has anyone heard similar? I am talking about total repairs R&M not individual items :)

    Cheers,

    Smallbuyer
     
  2. MikeLivingTheDream

    MikeLivingTheDream BCOM MCOM MTAX CPA CTA Registered Tax Agent Business Member

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  3. smallbuyer

    smallbuyer Well-Known Member

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    Only $11m? isnt that just your cut? I have heard about work claims but am curious about repairs. Perhaps it is that they turn a blind eye to things when the total is under $300, consider that fair R&M or something?
     
  4. D.T.

    D.T. Adelaide Property Manager Business Member

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  5. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    I think you are probably getting this confused with < $300 items that can be written off immediately for depreciation purposes.
    https://www.ato.gov.au/Individuals/...estions-D1-D10/D6---Low-value-pool-deduction/