Understanding what you can claim for rental property repairs helps you save money and stay tax-compliant. Repairs like fixing leaks, repainting faded walls, or replacing broken fittings are usually deductible because they keep your property in working order. However, major upgrades such as adding a deck, new flooring, or full renovations are considered improvements, not repairs. These can’t be claimed as instant expenses but may be depreciated over time. Always keep receipts, invoices, and clear records for each repair to make your claims easy. Regular upkeep also keeps your tenants happy and protects your property’s value. When it’s time to refresh the paint or repair old walls, hiring trusted experts like Quest Paintings ensures quality results. By knowing what’s claimable and what’s not, you can manage your property better and avoid missing out on valuable deductions during tax season.
https://questpaintings.com.au/claiming-rental-property-repairs/
Claiming Rental Property Repairs: What You Can & Can’t Claim (The Ultimate Guide)