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Depreciation, cgt, stamp duty and 50% discount
No, conveyancing fees form part of the cost base: http://www.ato.gov.au/individuals/PrintFriendly.aspx?ms=individuals&doc=/content/00131327.htm- alexlee
- Post #9
- Forum: Accounting and Tax
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Depreciation, cgt, stamp duty and 50% discount
Your call, but in my opinion, if you're just starting out, better to focus on how to buy (property selection, the buying process, etc), how to finance (what LVR, how to structure loans, offsets) and how to keep (knowing what's deductible, knowing how to calculate cashflow). You can't learn...- alexlee
- Post #6
- Forum: Accounting and Tax
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Depreciation, cgt, stamp duty and 50% discount
Intuition doesn't always work when you're talking about tax law. Yes, building depreciation is deducted from your cost base on sale, increasing your capital gains. In your example: Property price 100k Stamp duty 5k Depreciation 10k Sale price 200k Your cost base is 100 + 5 - 10...- alexlee
- Post #3
- Forum: Accounting and Tax