Claiming IP deduction from prior year

[sashatheman]

Hi all.

Does anyone know a definitive answer to the following question. I have a pest & building expense from May 2012 for an IP that was settles only in June 12. I didn't claim the expense in the 2011-2012 year (i didn't have the IP yet). Can I include the expense still in the 2012-2013 tax return?

It is $500 dollars so not chump change, and I would love to still include it. BTW this is the first year I am getting an accountant to do my tax return so i am trying to get all the paperwork ready for them.

 

[marg4000]

Check with your accountant, but I think the pest and building is part of the purchase process and not deductible, maybe will come into CGT calculations.
Marg

 

[Terry_w]

Check with your accountant, but I think the pest and building is part of the purchase process and not deductible, maybe will come into CGT calculations.
Marg

I think the same!