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New Member

Can I claim a cost for furnature that I owned (for years) and used in one of my rental properties?

 
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New Member

Can I claim a cost for furnature that I owned (for years) and used in one of my rental properties?

The problem is that you would need to add it at market value this year which is probably very little.  You would have to add it as a class 8 at 20% and only claim half of that the first year.  I don't thin it is worth it.

If you wanted to use it as an expense, you probably could due to the low value, but you would use the market value of a "years old" couch, which again is likely to be very little.  You cannot claim the original cost.

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New Member

Can I claim a cost for furnature that I owned (for years) and used in one of my rental properties?

The problem is that you would need to add it at market value this year which is probably very little.  You would have to add it as a class 8 at 20% and only claim half of that the first year.  I don't thin it is worth it.

If you wanted to use it as an expense, you probably could due to the low value, but you would use the market value of a "years old" couch, which again is likely to be very little.  You cannot claim the original cost.

View solution in original post