Neil Orbison, a resident taxpayer, purchased a property on 15 July 2021 as an investment with the intention of deriving rental income.

For the following transactions, calculate any amountsthat he would be able to claim as a deduction under either s.25-1O or s.8-J for the 2O21/22 tax year.

( a ) Neil paid $4,12O to repaint the property before making it available for lease on 1 August 2021

(B)During October 2021, Neil paid $670 to repair a door that was damaged during a storm.

( C) Neil's first tenants vacated the property on February 2021, following the expiry of their lease. On 10 February 2021, before leasing the property to new tenants, Neil had one of the bedrooms repainted. This cost $980 and was necessarybecause of damage incurred during the previous tenant's lease.

( D) On 11 June 2021, Neil paid $5,200 to have a large section of wall removed between the living room and kitchen to increase the living space in the property. The new living room was then wallpapered at a cost of $2,450.

Answer rating: 100% (QA)

a The 4120 paid to repaint the property before making it available for lease on 1 August ... View the full answer