deductions

Apologies if this is a silly question, but would section 94 contributions for a building entirely for the purpose of investment property (ie. to rent out) be tax deductible? For those who aren't familiar with them section 94 contributions allow local councils to charge a levy to anyone...

Hello, First time poster, long time reader. To start with, of course I will be speaking to an accountant about this, but thought I would pick some brains here too. If I am to buy a house in the ACT now and rent it out immediately for, say, a year, is the stamp duty on my purchase still...

Hi, SITUATION: I am acquiring an Investment Property (settlement due in May2012). I have taken a Fixed Rate I/O loan (@ 95% LVR) that allows advance payment of annual interest. This does not allow any extra repayment of more than 10K/year. Meaning, I cannot put my rental income (26K/year) in...

I have filed for a private ruling, as to the deductibility of capitalised interest from LOC secured against a PPOR to service the IP loan. Talking to the ATO they accept that it tax deductible under 8-1 but are looking closely at applying part IVA. The ATO officer drew my attention to the...

Hi All, Quick question: Is driving around to search for IP property, tax deductable and upto 5,000 km can be claimed without receipts? What happens when you don't end up buying IP, can you still deduct? Cheers,