EV 1051936957533currentnon-binding advice

Deductions - rental repairs

Non-binding edited private advice. This is an edited version of private advice the ATO gave to a specific taxpayer about their own circumstances. You cannot rely on it — it is not binding and provides no protection for anyone else (see PS LA 2008/4). Use it as a guide to the ATO’s thinking, not as authority.

1

Can you claim a deduction for replacing an asbestos roof?

2

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 23635 on ato.gov.au This ruling applies for the following period : Year ending 30 June 20XX The scheme commences on: 1 July 20XX

3

You own a rental property. The property has been continually rented for many years. The property is situated between a surf beach and a river and is subject to extreme weather conditions. These conditions include salt air and strong winds. The original roof contained asbestos. Due to the asbestos and the extreme weather conditions, the roofing deteriorated at a faster pace and had to be replaced as it was a danger to the tenants. You have replaced the roof with colorbond, which is more durable than the existing roof.

4

Income Tax Assessment Act 1997 section 25-10