Are expenses on my primary residence for improvement and renovation tax deductible?
By Alicia Human · Updated
Are expenses on my primary residence for improvement and renovation tax deductible?
If you have renovated your property and improved its income earning capacity (for example, you have added on a room) then this would be regarded as capital expenditure - it would not be deducted from income, but would be added to the base cost of the property and used to decrease capital gains tax when you sell it one day.