TALKING TAX | Investment properties | Repairs vs improvements

March 18 2018 - 5:00pm
WRITE IT DOWN: If you decide to hire a professional to work on your investment property, make sure to ask for an itemised invoice. This will help you during tax time. Photo: Shutterstock.com
WRITE IT DOWN: If you decide to hire a professional to work on your investment property, make sure to ask for an itemised invoice. This will help you during tax time. Photo: Shutterstock.com

I bought a rental property in Melbourne about 10 years ago. Most of the carpet in the property has worn out over time and I’m looking at replacing it. A friend mentioned I might be able to claim the costs of the new carpet as a tax deduction. Is this true?

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