Search results

  1. R

    Are Expenses During Settlement Period Deductible?

    Often contracts have a condition subsequent such as "subject to finance" which might be regarded as defeasible by the ATO ?? If any uncertainty, it would pay to get an Accountant/Solicitor to quickly scan the contract and discuss details. Cheers, Rob
  2. R

    Are Expenses During Settlement Period Deductible?

    Hmmm ... I can see the ATO might use the following arguments: 1) To claim Div 40 depreciation you need to be the "holder" of the asset. 2) Your expenses are contingent on the contract being completed. No deductions for expenses that are merely threatened or impending ... Emu Bay Railway Co...
Back
Top