Building insurance for house + Granny Flat

Discussion in 'Accounting and Tax' started by laurieload, 10th May, 2013.

  1. laurieload

    laurieload Getting there slowly

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    tax implications : Building insurance for house + Granny Flat

    Have a spanking brand new tenanted Granny Flat in the garden of our PPOR. Building insurance is due for renewal.

    Youi have given me a great deal on insuring both props combined, which is better than insuring properties separately. My question is - can I proportion out the cost of the flat building insurance at tax time when I am claiming the cost of the flat building insurance as a deduction? Flat is insured for 100k, house for 200k. Or should I do both properties separately?

    Cheers in advance :)
     
    Last edited: 10th May, 2013
  2. thesuperman

    thesuperman Member

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    Will having a PPOR & renting out the granny flat on the same title of land have CGT & land tax implications in NSW? Possibly something to consider.
     
  3. laurieload

    laurieload Getting there slowly

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    Yes didn't think of that. Hmmm. Anyone know how whether proportioning out land tax is permitted for a Granny Flat + PPOR? :rolleyes:
     
  4. laurieload

    laurieload Getting there slowly

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    Ok just in case anyone follows this up later, have had advice that proportioning out land tax / CGT / building insurance cost based on land attributed to the Granny Flat come tax time is ok. Will find out for sure after tax time I guess!