Expenses Connected with Sale of Investment Property

[saleemn]

Planning to sell long term investment units. If ultimately end up not selling the units can we claim the expenses incurred for selling - advertising cost and minor maintenance.

In case the units are sold as it is a long term investment units no tax is applicable. Can we still claim the expenses incurred in selling the units. I am not talking about the real estate commission. Only the expenses like advertising and some minor repairs and maintenance.

[Rosco]

Hi Saleemn,

Advertising for sale - whether you sell or keep, this is not deductible. Nothing to do with the rental business and is 100% related to selling.

Repairs - If they are true repairs and not an asset, and you keep the property as a rental, then would be deductible as normal repairs.

This might help to - https://www.cswaikato.co.nz/index.ph...n-auckland/179

Ross

[saleemn]

Thanks Ross