Replacing faulty gas heater with split system

Discussion in 'Accounting & Tax' started by housechopper2, 27th Jun, 2018.

Join Australia's most dynamic and respected property investment community
Tags:
  1. housechopper2

    housechopper2 Well-Known Member

    Joined:
    5th Oct, 2016
    Posts:
    493
    Location:
    Melbourne
    if you replace a faulty wall gas heater with an electric split system, is it tax deductible?
     
    housechopper2, 27th Jun, 2018
    #1
  2. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    23,643
    Location:
    Sydney
    No.

    Its capital expenditure. Depreciable. (The installed cost). IF the old gas heater has effective life in a QS report and its not pooled you may be able to write it off.
     
    Paul@PAS, 27th Jun, 2018
    #2
    housechopper2 and Terry_w like this.
Build Passive Income WITHOUT Buyers Agents!

Build Passive Income WITHOUT Dropping $15K On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia