Hi guys, I currently own and live in a unit, and have bought a house with the settlement date 10th Feb. I am turning the unit into an investment property, and plan to move into the new house on 11th Feb. In the old unit, I have a leaky bathroom basin that needs to be replaced and some loose tiles that needs repairing. I have a tradie who's able to do it anytime. The unit will be advertised for rental next week, but obviously the tenant wont be able to move in until after 11th Feb. My question is - can i claim the expense of replacing the bathroom basin now as it's already advertised (although not available until 3 weeks later)? OR can i only claim the expense once the tenant moves in - in which case I might delay the repair until after settlement.
agreed non deductible as a repair when you get your depreciation schedule done this small cost will probably increase the value of the asset slightly and that will give you a depreciation benefit over time.
