Hi all,
Just wondering how do you determine whats a repair/maintainance and whats considered an improvement. I have recently purchased an IP and the shower screen glass is cracked and coming of the rails and the vanity is falling apart as advised by my building inspector. I was thinking of doing a whole reno on the bathroom rather then just fixing a few things. Would replacing the shower screens and vanity be classified as a repair and be tax deductible? And the rest such a retiling etc be classified as improvement?
Just wondering how do you determine whats a repair/maintainance and whats considered an improvement. I have recently purchased an IP and the shower screen glass is cracked and coming of the rails and the vanity is falling apart as advised by my building inspector. I was thinking of doing a whole reno on the bathroom rather then just fixing a few things. Would replacing the shower screens and vanity be classified as a repair and be tax deductible? And the rest such a retiling etc be classified as improvement?