Landlord tax 2006 - is replacement of existing items allowed to be written off?

[Cityliving]

Hey there,

I know there are lots of tax Qs here so thanks for checking this for me.

I have read the deductions on the Revenue site but still have Q:

The hoover in my flat broke so I replaced it with a new one for the tenant, same with a pump.

I also bought extra fire safety equipment (extra fire blankets, fire ladder, extra fire extinguishers) and some stuff for the kitchen like pots pans etc.

From this list what cant be claimed.

Thanks

 

[asdfg]

All can be claimed. You should include them in your Furniture & Fittings and write them off over 8 years at 12.5% each year

 

[Cityliving]

Are you sure? I can agree with the pump and hoover but the safety equipment does not seem to fit into any of the deducatble slots

What about furniture both pre-rental i.e. on purchase of the property can that be deducted at 12.5% a year?

 

[Dreamerb]

Are you sure? I can agree with the pump and hoover but the safety equipment does not seem to fit into any of the deducatble slots

I'd say to deduct the fire extinguishers as a current cost (they need to be replaced every two years or so, thus aren't a capital cost. Do check expiry dates). It's mostly common sense: if something should last for a number of years, then write it off at 12.5% of the original price a year. You may be able to write off the book value (if any) of the materials you replaced as well.

What about furniture both pre-rental i.e. on purchase of the property can that be deducted at 12.5% a year?

I'm not entirely sure what you mean. As a rule, yes, you can depreciate at 12.5% a year. If you had the furniture for some time before you rented it out, then you would depreciate from a sensible value, and one you can reasonably back up.

 

[Cityliving]

Thanks for that.

the only question with a pump would that apply as wear and tear? I guess its a repair if it broke but its gonna last years.

Cheers

 

[Dreamerb]

It really depends on how much it costs. If the cost is relatively trivial (<€500, say) it's reasonable and probably less hassle simply to treat it as a repair and be done with it. For a higher cost item, it's prbably more appropriate, and depending on the level of your rental profit it may be favourable, to write it off over a number of years.