D
dedalus
Guest
I am currently living in my primary residence but am about to change the mortgage on this from a homeloan to an investment mortgage, as i will be moving into my fiance's house very soon.
As part of the re-mortgaging package i want to release some equity to completely re-decorate the bathroom etc. I want to ensure that the money i spend on this work is offset against my tax on the rental income when the tenants move in. Is there any timeframe or limits on this work in terms of being able to offset it? should i wait until the investment mortgage is in place and then carry out the work? - obviously this will be more disruptive for the tenants however.
any advice appreciated.
As part of the re-mortgaging package i want to release some equity to completely re-decorate the bathroom etc. I want to ensure that the money i spend on this work is offset against my tax on the rental income when the tenants move in. Is there any timeframe or limits on this work in terms of being able to offset it? should i wait until the investment mortgage is in place and then carry out the work? - obviously this will be more disruptive for the tenants however.
any advice appreciated.