Hi,
If I'm purchasing a PPOR off the plan, does anyone know if the related bank guarantee fees are deductible? They are usually charged every 6 months.
It seems unfair that all the interest is taxable but due to the bank guarantee fees; I'm actually only receiving a proportion of the return.
Interest income less Bank guarantee fees less Tax = Nearly squat
Theres a tax ruling for property investments ATO ID 2003/113. Will that apply for private property purchases too?
Has anyone had experience with this scenario?
If I'm purchasing a PPOR off the plan, does anyone know if the related bank guarantee fees are deductible? They are usually charged every 6 months.
It seems unfair that all the interest is taxable but due to the bank guarantee fees; I'm actually only receiving a proportion of the return.
Interest income less Bank guarantee fees less Tax = Nearly squat
Theres a tax ruling for property investments ATO ID 2003/113. Will that apply for private property purchases too?
Has anyone had experience with this scenario?