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Edited version of private advice
Authorisation Number: 1052066227514
Date of advice: 6 December 2022
Ruling
Subject: Deductions - rental property expenses
Question
Are you entitled to a deduction for costs associated with repainting, repolishing of floor boards and replacement of worn out sash cords on your rental property under Section 25-10 of the Income Tax Assessment Act 1997 (ITAA 1997)?
Answer
Yes, having considered your circumstances and the relevant factors we are satisfied that the repairs on your rental property meet the requirements in Taxation Ruling TR 97/23 and is an allowable deduction under section 25-10 of the ITAA 1997 in the 20XX income year
This ruling applies for the following period:
Income Year ended 30 June 20XX
The scheme commences on:
1 July 20XX
Relevant facts and circumstances
You have owned an investment property in XXX since June 20XX ('the property')
Since around 20XX or 20XX, you have rented the property out to tenants.
In XX 20XX, you arranged for the wooden floors to be re-polished.
During the 20XX Financial Year, you incurred the following expenses on the property:
1. Repolishing of the wooden floors
2. Repainting on the internal walls
3. Replacement of sash cords on the windows
All items had been damaged though wear and tear. The paint was chipped and marked. The floors were worn, faded and marked. The sash cords were getting thin.
Relevant legislative provisions
Income Tax Assessment Act 1997 section 25-10