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Repairs vs Improvements

Posted on: Mar-2015-25 06:10:41 by BORGEAUD & CO

REPAIRS VS IMPROVEMENTS Repairs vs an improvements still remains a contentious issue for many property investors. So how can a repair be distinguished from an improvement? We look at four issues below.   When was the work done? For work done immediately after you purchase your rental property, no deduction will be available. This is […]

Lump sum compensation payments can be income!

Posted on: Sep-2014-22 05:18:57 by Borgeaud & Co

Lump sum compensation payments are often seen as receipts of capital and not taxed as income. Here is a case where a lump sum payment was held to be income and taxed accordingly.   A taxpayer had given up full time employment to care for her husband after he sustained an injury that prevented him […]

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Repairs vs Improvements

REPAIRS VS IMPROVEMENTS Repairs vs an improvements still remains a contentious issue for many property investors. So how can a repair be distinguished from an improvement? We look at four issues below.   When was the work done? For work done immediately after you purchase your rental property, no deduction will be available. This is […]

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Lump sum compensation payments can be income!

Lump sum compensation payments are often seen as receipts of capital and not taxed as income. Here is a case where a lump sum payment was held to be income and taxed accordingly.   A taxpayer had given up full time employment to care for her husband after he sustained an injury that prevented him […]

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