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  1. Pushka

    Stamp duty as a tax deduction in the ACT - but purchased off the plan

    I understand that stamp duty is only available as a deduction to Capital Gains Tax calculations - which is when you sell it. You cant simply deduct it. And if only rented for a short period of time it will be apportioned. If you have rented it out then it becomes a PPOR it will be capital...
  2. Pushka

    Stamp duty as a tax deduction in the ACT - but purchased off the plan

    Check out page 14 on this document you can find on the ATO website: NAT 1729–6.2008 http://www.ato.gov.au/individuals/content.asp?doc=/content/00191817.htm (for the financial year 08 but the same principles apply) where it states: Similarly, if you take out a loan to purchase land on which...
  3. Pushka

    Stamp duty as a tax deduction in the ACT - but purchased off the plan

    Any of the usual deductible expenses are completely deductible during the construction period provided that the purpose of the constuction is to use as an investment property. Expenses that are normally not tax deductible (eg stamp duty ) are added on at the time of later sale when calculating CGT.
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