Hi all,
This is my first year in renting out house, so bare with me with the beginner questions.
I had an old alarm that I replaced with a new one, does this fall under a "repair" or is it classified as capitial expense and be claimed under "wear & tear" at 12.5% per year?
thanks in advance.
This is my first year in renting out house, so bare with me with the beginner questions.
I had an old alarm that I replaced with a new one, does this fall under a "repair" or is it classified as capitial expense and be claimed under "wear & tear" at 12.5% per year?
thanks in advance.