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    Tax Deductibility of IP Purchase Costs in ACT

    Reply: 1.1.1.1.1.1.1.1 From: Jenny F Found the reference to this - it is now specifically mentioned in the ATO Tax Guide for Rental Properties 2002. Link http://www.ato.gov.au/download.asp?file=/content/individuals/downloads/RentalProperties2002.pdf&Title=Rental+properties+2002 First...
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    Tax Deductibility of IP Purchase Costs in ACT

    Reply: 1.1.1.1.1 From: Jenny F Thanks very much Paul, that helps a great deal - I might look up your agent here in Canberra and see if he can assist (mine is in Victoria so it is not surprising he is not aware of this). I was thinking of asking for one of those ATO rulings or decisions to...
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    Tax Deductibility of IP Purchase Costs in ACT

    Reply: 1.1.1 From: Jenny F Rolf, yes I would have thought tax law was national also, but the PIA software makes the suggestion that ACT is an exception in this particular matter. I presume that, as suggested by T Avery, it is supposedly related to the fact of the 99 year lease basis upon...
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    Tax Deductibility of IP Purchase Costs in ACT

    From: Jenny F Hi, I own an IP in the ACT. I read a previous post which stated that, unlike other states, in the ACT purchase costs (stamp duty and conveyancing) are tax deductible in the year of purchase rather than being deductible only against any capital gain when selling. I have not...
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