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Fergus owns a rental property. Instead of hiring contractors he does all of the property maintenance and repairs himself, keeping careful records. Which one of
Fergus owns a rental property. Instead of hiring contractors he does all of the property maintenance and repairs himself, keeping careful records. Which one of the following amounts is not a deduction from his rental revenue for tax purposes?
$712.50 for the value of his own labour (50 hours @ minimum wage of $14.25 per hour). | ||
$400 for insurance. | ||
$250 for bookkeeping services. | ||
$7000 for property taxes
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