i bought an IP in Canberra in Feb 2010 (contracts exchanged), paid SD on it in Feb 2011 and settlement of this property is in Dec 2011. SD paid on IP in Canberra can be claimed as a lease document expense.
i called ATO's individual tax helpline to find out how to claim the SD and they said it can be claimed in the year it is incurred if property is or will be used for producing rental income. however, their call centre OP could not tell which specific item the SD can be claimed under. he said that claim it under any item in the rental property schedule (under Section "Income/21 - Rent" in eTax).
so i'm including it under "Borrowing expenses" under the Rent section in eTax. has anyone claimed the SD thus in Canberra? can anyone let me know if i've been given the right advice and if i am claiming it correctly.
thanks
i called ATO's individual tax helpline to find out how to claim the SD and they said it can be claimed in the year it is incurred if property is or will be used for producing rental income. however, their call centre OP could not tell which specific item the SD can be claimed under. he said that claim it under any item in the rental property schedule (under Section "Income/21 - Rent" in eTax).
so i'm including it under "Borrowing expenses" under the Rent section in eTax. has anyone claimed the SD thus in Canberra? can anyone let me know if i've been given the right advice and if i am claiming it correctly.
thanks
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