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  1. S

    When is the purchase date for tax purposes?

    Paul, it is my understanding that the one tonne ute that you speak of is a CGT asset, however there is a specific exemption under s118.24 for depreciating assets. This doesn't prevent CGT event K7 occurring on disposal if there is a private use portion. In the case of purchasing a property...
  2. S

    When is the purchase date for tax purposes?

    I don't think you would have a problem claiming the building insurance in the current year, even without any rental income. Bringing the settlement forward won't make a huge difference, you will be able to claim the adjustments but they will only be for a couple of days so no huge benefit there.
  3. S

    When is the purchase date for tax purposes?

    Your CGT acquisition date is the date of contract per https://www.ato.gov.au/General/Capital-gains-tax/Acquiring-and-owning-CGT-assets/Date-of-acquisition/ but as Paul said you can't claim the settlement adjustments in the 2014 year as they are calculated based on settlement date which is in...
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