Investment Properties – Repairs, Renovations and Improvements
Overview
Understand the difference between repairs, renovations and improvements for investment properties so you and your clients don’t end up under ATO scrutiny!
Excessive claims for rental property deductions have been in the ATO’s firing line recently. One area the ATO gives a particular focus to is incorrect claims for repairs to rental properties. The distinction between a tax deductible repair and a capital improvement is very narrow and it’s easy for clients and their advisers to make mistakes.
This session aims to provide attendees with a detailed overview of the law and the supporting guidance given by the ATO in respect of the tax treatment of property repairs. Packed with practical examples drawn from real life situations, the webinar will however do more than simply restate the rules; it will bring them to life through the genuine claims taxpayers have attempted to make, sometimes successfully and sometimes not.
Amongst the topics to be covered:
- When and how is a repair deductible?
- When must a repair be capitalised?
- What is a repair?
- What is an improvement?
- How is an improvement treated for tax?
- Treatment of initial repairs
- Treatment of repairs to property carried out after income source ends
- How is expenditure to control health risks from dangerous substances treated?
- Practical tips on how to get the best outcome for your client
Learning Outcomes:
Attendees can expect to complete the session with a detailed understanding of how the rules operate and how the rules can be applied to property owning clients so as to produce the best tax outcome whilst minimising the risk of ATO review or audit.
Suited to:
This session is suited to all accountants and tax practitioners with clients who own or manage rental properties as well as other professionals who deal with rental property owners.
This On Demand recording Includes:
- Recording of the Live Webinar, which can be viewed multiple times, for as long as required
- Presenters contact details for follow up questions
- CPD Quiz
- CPD Certificate
- CPD Report – Logged automatically
- PowerPoint Presentation
- Verbatim Transcript, with Searchability
- Supporting Documentation
Course syllabus
3 lessons
- Video – Investment Properties – Repairs, Renovations and ImprovementsVideo
- Feedback Survey QuestionsSurvey
- Knowledge QuizTest
Your presenter
Mark ChapmanH&R Block
is the author of Life and Taxes: A Look At Life Through Tax and has edited and updated the second, through to the eighth, editions of Australian Practical Tax Examples, published between 2019 and 2025 by Wolters Kluwer CCH Australia.
He has over 30 years experience as a tax professional in both the UK and Australia, specialising in tax for small business and individuals. He is a fellow of the Institute of Chartered Accountants in England and Wales, a fellow of CPA Australia and a member of the Chartered Institute of Taxation. He holds a Masters of Taxation Law with the University of New South Wales.
Since 2015, Mark has been Director of Tax Communications with H&R Block Australia. He writes regularly on tax issues for numerous media outlets and presents on topical tax topics at seminars and other events. He broadcasts frequently on radio and television and writes a regular column for Money Magazine and Yahoo7 Finance. As a tax practitioner in the UK, he occupied a number of senior positions before moving to Australia in 2007 to join the Australian Taxation Office (ATO) as a senior director.