Maintenance Issues To Fix?

There are 3 weeks left until the end of the financial year so it is time to get those last minute repairs done if you want to claim them in this financial year.

Maintenance Expenses

Property maintenance expenses are those that are incurred in bringing the property back to a safe standard.  It could be replacing a few boards on a deck, repainting your walls, replacing some stove top elements, replacing some corroded taps or fixing a retaining wall.

Capital Expenses

Capital expenses are expenses which can be deducted with a Depreciation Schedule and they are expenses that add value to a property such as building a retainer wall, replacing an oven, replacing a bathroom cabinet or similar asset costs.

There is still time to get a Depreciation Schedule done by contractor so give them a call if you want one done this financial year and get the benefits on it in just a few week’s time.

 

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