Anyone claimed special levies in their tax return this tax year?
Particularly with the issues of Mascot towers and Olympic park. My understanding is they are separate to normal levies?
Anyone Claimed Special Levies in Their Tax Return This Tax Year?
raz0r11 on 18/07/2019 - 22:07
Last edited 19/07/2019 - 09:05 by 1 other user
Last edited 19/07/2019 - 09:05 by 1 other user
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Yeah as part of an invesment propery. Trying to read ATO guidelines which makes me think you can't and the definition of repair is heavily stretched e.g remedial works is not necessairly repair but capital works
Talk to an accountant, they will clarify it for you and their fees ARE deductible.
Yeah - the distinction is between "ongoing maintenance" which are expenses and "repairs" which are capital costs. Special levies…. will depend on what it's used for.
If you mean as part of a claim for an investment property, then yes, if your own home, then no.