I would like to ask the forum for advice about income tax deductible expenses, I bought a house, then I undertook all the repairs and redecoration works, then I moved in for a year with my family. We then moved out and I rented it out, I have been advised that i cannot offset these expenses against the future rental income on the house for the repair, replacement and repainting works as I lived there, is that correct?
Has anyone heard about this problem before?
Pls let me know?
thank you
Best wishes
James Tanner