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Are expenses on my primary residence for improvement and renovation tax deductible?

Posted 23 November 2016 under Tax Questions

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Menke says:
23 November 2016 at 16:55

Are expenses on my primary residence for improvement and renovation tax deductible?

This entry was posted in Tax Questions and tagged , , . Bookmark the permalink.

TaxTimTaxTim says:
23 November 2016 at 17:06

If you have renovated your property and improved its income earning capacity (for example, you have added on a room) then this would be regarded as capital expenditure - it would not be deducted from income, but would be added to the base cost of the property and used to decrease capital gains tax when you sell it one day.


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