ACT Stamp Duty - belated tax Deduction

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From: Gordon Austin


Hi gang,

Don't laugh - this is a long shot.

In ACT you can claim stamp duty as a tax deduction on rental properties because the land is leasehold. However when I purchased the property about 2.5 years ago it was our PPOR. Just under two years later we moved and now use it as a rental property. Is it still possible to claim a portion of the stamp duty as a tax deduction now the property is used as a rental property?

Thanks - Gordo
 
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Reply: 1
From: Dale Gatherum-Goss


Hi

No, the laws that allow the stamp duty to be claimed as a tax deduction for an IP effectively wipe out your ability to claim this now as a retrospective tax deduction.

Sorry.

have fun

Dale
 
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Reply: 1.1
From: Geoff Whitfield


I have a friend who buys a house intended as a PPOR- but leases it out for the first year, just for that reason.
 
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