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789
12-04-13, 13:19
Assuming I bought a property last year Jun and I spend $50k to renovate it before renting out in Nov last year. And the reno include painting lighting, cabinet and electrical appliances etc.

In my property income form what should I include in the repairs and maintenance section?
Lemonlaw
12-04-13, 13:24
Assuming I bought a property last year Jun and I spend $50k to renovate it before renting out in Nov last year. And the reno include painting lighting, cabinet and electrical appliances etc.

In my property income form what should I include in the repairs and maintenance section?

The maintenance expenses applies to expense during the period of rental not before rental, interests on banks interests are able to offset and count as expenses too.

Renovation cannot be claim as expenses. Renovation cost can be added into the rental monthly income as fully furnished.

In doubt, give IRAS a call at 1800 356 8300
789
12-04-13, 13:29
The maintenance expenses applies to expense during the period of rental not before rental, interests on banks interests are able to offset and count as expenses too.

Renovation cannot be claim as expenses. Renovation cost can be added into the rental monthly income as fully furnished.

In doubt, give IRAS a call at 1800 356 8300
ok thanks. So for painting etc, if the tenant request for repaint prior to moving in but after signing of TA, can that be classified as expenses?


http://www.iras.gov.sg/irashome/page04.aspx?id=160
Lemonlaw
12-04-13, 13:30
ok thanks. So for painting etc, if the tenant request for repaint prior to moving in but after signing of TA, can that be classified as expenses?

Yes, painting are part of the expenses incurred during rental.
789
12-04-13, 13:40
what about if the tenant requested for dish washer?
Lemonlaw
12-04-13, 13:53
what about if the tenant requested for dish washer?

Atas leh your tenant, I doubt can claim coz it's a maintainance expenses not new purchased.

If I am your tenant landlord, I will either ask him to buy himself or I increase monthly rent by 100.00 per month to have this item with a 18mth lease of course.
greglhc
12-04-13, 15:30
what about if the tenant requested for dish washer?

must be angmoh tenant.
789
12-04-13, 15:34
must be angmoh tenant.

usually the case. both my tenanted property has got dishwasher in them. Happy tenant, happy landlord.