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Which costs are deductible prior to receiving rental income?

Posted 17 April 2017

Simon says:
17 April 2017 at 13:48

In respect of a second property that one rents out, starting off, can one deduct the following for personal income tax:
(1) Bond transfer fees and registration costs;
(2) Costs incurred on repairs to the property in the month prior to receiving the 1st rental for the property?

TaxTim TaxTim says:
17 April 2017 at 15:06

You can deduct the repairs only, the other costs are part of the base cost of the property reducing any capital gains on sale.

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