Depreciation on set up costs

[Jude H]

From: Jude H


Are these fully depreciable in the first year or over 5 years?

Short, sharp and sweet!

Jude

 

[Michael Yardney]

Reply: 1
From: Michael Yardney


Jude H Boy was that short and sharp. What set up costs are you talking about?
Michael Yardney Metropole Properties

 

[Jude H]

Reply: 1.1
From: Jude H


Hi Michael,

S/Duty, MLI, conveyancer, bank fees etc.

Jude

 

[Rolf Latham]

Reply: 2
From: Rolf Latham


Hi Judy

No tax expert !

Stamp duty usually regarded as capital therefore is deducted from any capital gain when you sell.

Remiander such as convey, LMI, brokers and buyers agents fees etc, I think is 20 %, so 5 years.

Ta


Rolf

 

[duncan_m]

Reply: 2.1
From: Duncan M


Hi Rolf,

You're right 5 yrs.. or when a loan is discharged.. so immediately deductible when you refinance..

Regards,


Duncan.