Claiming Capital Expense on Extension?

Fol20

Hi All,

i was wondering can i claim a capital expense if i put an extension onto my invest property.

Lets say it will cost 50k,

Can i claim 12.5 over 8 years?

http://www.irishlandlord.com/index.aspx?page=infocentre_article_view&id=49

the long lad

you wont be able to claim capital allowances on the extension itself. you may be able to claim capital allowances on the fixtures and fittings alright. if you sell your property you'll be liable to capital gains tax, you'll get a deduction at that point for the cost of the extension.

Fol20

the long lad wrote: »

you wont be able to claim capital allowances on the extension itself. you may be able to claim capital allowances on the fixtures and fittings alright. if you sell your property you'll be liable to capital gains tax, you'll get a deduction at that point for the cost of the extension.

What exactly would fixtures and fittings be besides the obvious tables, chairs and beds etc.

How about replacing windows,bathrooms etc

Mr. Incognito

Thread closed- Property

OP and respondent 3 day ban each