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Edited version of private advice
Authorisation Number: 1051808971552
Date of advice: 23 February 2021
Ruling
Subject: Rental property expenses - repairs
Question
Are your expenses deductible as repairs?
Answer
Yes. Your expenses meet the requirements in Taxation Ruling TR 97/23 Income tax: deductions for repairs and are deductible. Further information about repairs can be found by searching 'QC 55249' on ato.gov.au
This ruling applies for the following period:
Year ended 30 June 2020
The scheme commences on:
1 July 2019
Relevant facts and circumstances
You purchased a property which has always been used for rental purposes.
In XXXX you became aware that part of the floor in the property had collapsed.
You engaged a contractor to inspect and carry out the work at the property. The scope of works included repairing the rear corners of the house which involved underpinning and repairing the foundations at the rear of the property.
On XXXX work was carried out to repair the foundations. You incurred expenses totalling $XX.
Relevant legislative provisions
Income Tax Assessment Act 1997 section 25-10
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