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Edited version of private advice
Authorisation Number: 1052094473759
Date of advice: 10 March 2023
Ruling
Subject: Rental property expenses
Question
Are your expenses deductible as repairs?
Answer
Yes. Your expenses meet the requirements in Taxation Ruling TR 97/23 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 ending 30 June 20XX
The scheme commenced on:
XX March 20XX
Relevant facts and circumstances
You own and operate a rental property.
You incurred expenses totalling $XX for the eradication of termites and subsequent repairs to walls (plastering and painting) after the termites were removed.
The termites and termite damage were not present when you originally purchased the property. You had a building and pest inspection undertaken pre purchase and you would not have purchased it if they were present.
The property was rented out before and after the repairs took place.
Relevant legislative provisions
Income Tax Assessment Act 1997 Section 25-10