Can I submit invoices for building material?

By Marc Sevitz · Updated

Nazeem

Nazeem said:
10 June 2015 at 7:43

Can I submit invoices of building material I bought for renovation to my house?
TaxTim Marc

TaxTim Marc said:
10 June 2015 at 15:10

Renovation costs are added to the base cost of a property which will be used to reduce your gain and therefore capital gains tax when you finally sell the product. You cannot claim these as expenses.