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Tax deduction for insurance on rental property

Posted 22 July 2016 under Tax Questions



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Daisy says:
22 July 2016 at 14:23

Can the excess I paid on an insurance claim be claimed as an expense on my rental property and are the proceeds from the insurance claim taxable?

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TaxTimTaxTim says:
22 July 2016 at 15:30

The insurance claim will not be taxable and unfortunately you cannot claim the excess for tax purposes.


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