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View Full Version : Can I expense some of the cost for home improvements?



SummerLuvin
02-21-2012, 01:38 PM
Here's the scenario: playroom is downstairs, bathroom is upstairs. There is a roughed-in bathroom next to the playroom. I would LOVE to finish the bathroom downstairs where it would be used primarily by the day care kids. Could I claim some of the cost of putting in the bathroom as a business expense since it will be used by the dck?

Anyone know?

Inspired by Reggio
02-21-2012, 01:51 PM
I think you could argue that this was a business related expense - however because it is also a 'home improvement' you would not be able to write off the 'entire cost' ... so only the shared cost that the business is open verses closed during the year and than depending on the amount it would have to be done over the course of 5, 10 or 15 years ... you would have to double check on capital allowance process for each amount .... so things over $250 but under X are on one scale and so forth.

We had to make improvements to the playroom too - including a new window for a secondary fire exit from the playroom and the account amortized that over 5 year period - this tax year is the last year for it as a write off!