Maximising cash flow from Spring clean and maintenance costs
Property investors have the added benefit of claiming their Spring maintenance and cleaning costs as immediate tax deductions. But how does this work and what do they need to be aware of to ensure any costs are claimed compliantly?
Knowing the difference between a repair and an improvement is crucial when assessing how much to claim as a deduction. Photo: Shutterstock (Image source: Shutterstock.com)
Spring has sprung and many Australians are looking to freshen up their homes or investment properties.
Property investors have the added benefit of claiming their Spring maintenance and cleaning costs as immediate tax deductions. But how does this work and what do they need to be aware of to ensure any costs are claimed compliantly?
Defining cleaning and maintenance for investment property
Let’s start with the basics. Cleaning an investment …
