Claiming stamp duty

[Charlie1608]

Hi all,
My wife and I bought a land and house package in the A.C.T as a investment property, the house will be completed by the end of the year.
We have to pay $8,500 stamp duty, what we would like to ask is,how do we claim to stamp duty (in our tax return?) and how much would we expect to get back? as we are first timers to investing.
Your help would be appercated,
Thanks.

 

[Rob Williams]

Can't claim stamp duty as an expense. It get's added to your cost base for CGT purposes, in the event you ever sell.

 

[Murphy69]

Isn't the ACT different?

In the ACT you don't actually buy a property, rather you lease it, and this somehow affects the way stamp duty can be claimed, but I'm not sure how

Murphy

 

[Rob Williams]

I thought you could no longer claim stamp duty on leased property, either, as of a couple of years ago.
This might have been a good question to have asked BEFORE buying the property?

 

[luckyone]

You can claim the stamp duty you paid as a tax deduction in the year you purchased it in ACT.