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Hi there. For other states of Australia, you can use Stamp Duty paid at purchase of an IP to reduced capital gains when you sell ie add to the Cost Base. In the ACT, the Stamp Duty is tax deductible (it a lease cost) at time of IP purchase. Am I correct is saying that as I claimed a tax...

Hi, Can IP Land Tax Arrears paid for prior years be used as a tax deduction in the year paid, and if not, when the IP is sold, can the arrears amount paid be used to reduce Capital Gains Tax when sold? Thanx in advance Fizz

Hi, I know I am responsible for the water supply charge to the premises. I have just received a water usage bill for my rental property in Canberra. Is the tennant reposible for paying this? Thanks in advance. Fizz

Hi, I have just recently bought a new duplex in Canberra for rental - I exchanged contracts in January but didnt settle til late June. Once advertised for rental, I spent considerable time and effort cleaning up after the builders (cleaning gutters, and inside tiles coverred in grout) then...

Hi, a friend of mine has a unit in inner Brisbane (only had it for 3 years), and the entire block of units is to be knocked down to build a new bus-way. The CGT Guide says that compulsory aquisition IS a CGT event, so the disposal is subject to CGT, but what the guide isnt clear on: "can he...

Hi All, I have sold an IP and must pay CGT and am confused re depreciating assets role in the CGT calculation. I realise I have to reduce the cost base for building write-off, but do I have to 'claw back' all my depreciation deductions claimed over the years (for hot water service, carpets...

Hi, I have 3 IP's and have been paying all tax deductible and non tax deductible costs (purchase costs, rates, interest, land tax etc) from my line of credit (LOC) account. The LOC over 5 years has now accumulated to $65K. Now I am selling my IP's (I know, never sell, but personal reasons...