Tax deductions - renovating between tenants

Discussion in 'Accounting & Tax' started by jprops, 11th May, 2017.

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  1. jprops

    jprops Well-Known Member

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    Hi,

    I have property that im renovating between tenants. Before the previous tenant, we had been advertising for a new tenant, however due to unforseen delay in renovation, the property wont be available immediately after previous tenant has vacated. We have now removed the listing and plan to relist it after the renovation.

    My question is, will expenses such as interest and rates etc still be tax deductible during this period if the property isnt immediately available?

    Thanks
     
    jprops, 11th May, 2017
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Yes, sounds like they will be in this case
     
    Terry_w, 11th May, 2017
    #2
  3. Paul@PAS

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

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    Perhaps.
     
    Paul@PAS, 12th May, 2017
    #3
  4. jprops

    jprops Well-Known Member

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    Thanks @Terry_w and @Paul@PFI , im happy to provide more information if the question requires?
     
    jprops, 14th May, 2017
    #4
  5. 10225

    10225 Member

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    Absolutely, no problem in my eyes.
     
    10225, 15th May, 2017
    #5
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