A question came up and I was wondering if the good people here about might know the answer.
In a rental property it requires all new floors.
The landlord has bought the floors for €1000 and seperatley is going to pay a carpenter €500 to lay them.
How is that treated for tax.
Is the €500 expensed in this year's tax and the €1000 at 12.5% for 8 years.
Or is the total amount of 1500 taken out at 12.5% for the 8 years.
Thanks guys.
In a rental property it requires all new floors.
The landlord has bought the floors for €1000 and seperatley is going to pay a carpenter €500 to lay them.
How is that treated for tax.
Is the €500 expensed in this year's tax and the €1000 at 12.5% for 8 years.
Or is the total amount of 1500 taken out at 12.5% for the 8 years.
Thanks guys.