Expenses related to home renovations

Going back to my question on the deduction -

Is it okay /advisable to get these exemptions(expenses) without the receipts?

As I purchased the property after 2001, is getting FMV from approved valuer an option here? If this is an option, should this FMV be used as cost of acquisition?

I’d first try to gather as much supporting evidence as possible before claiming the renovation costs. Even without the original bills, you may be able to look for old bank records, contractor details, emails, invoices, or other documents that show when the work was done and roughly what was spent.

For larger improvements such as a kitchen renovation, flooring, or built-in cupboards, photographs from before and after the work may also help establish that the improvements were actually carried out. Whether alternative evidence is accepted for capital-gains purposes depends on the applicable tax rules, so I’d be careful about estimating figures without documentation.

If you genuinely cannot recover the receipts, it would be worth speaking with a tax professional and explaining exactly what records you do have. They can tell you what alternative evidence may be acceptable and how to handle the claim properly rather than risking a problem later.

You may still have options, but it would be better to first check what alternative evidence can support the renovation costs, such as contractor records, old quotations, payment records, or other documentation. For the FMV and cost of acquisition point, the applicable tax rules and valuation date matter, so it’s worth confirming those details with a tax professional before filing. Keep whatever evidence you can find, even if the original invoices are unavailable.