From: Crispin Dobson
I have one investment property in my own name.
I am looking at buying an off the plan apartment, also in my own name, due for completion in 3 to 4 years time, and securing it with a deposit bond (can you believe $5,800 for 48 months?)and also a property advocate's fee of $5000.
Is it possible to claim the full amount as a tax deduction this financial year, or will I have to wait until completion in 4 years time and then amortise it over the following 5 years?
Thanks,
Crispin
I have one investment property in my own name.
I am looking at buying an off the plan apartment, also in my own name, due for completion in 3 to 4 years time, and securing it with a deposit bond (can you believe $5,800 for 48 months?)and also a property advocate's fee of $5000.
Is it possible to claim the full amount as a tax deduction this financial year, or will I have to wait until completion in 4 years time and then amortise it over the following 5 years?
Thanks,
Crispin
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