IP buying, holding and selling costs and tax deductions

[Electro]

Hi all,

I've been searching for a comprehensive list of what is and what isn't tax deductable when it comes to buying, holding and selling IP but have not been able to find exactly what I want so I thought I'd post. I kinda know the answers to some but I'll post all possibilities anyway (i'm even listing any expenses that may be taxes).

Buying IP:
Loan Application fees
LMI
Title search
Registration of title
Stamp Duty
Building/Pest inspections
Conveyancing

Holding IP:
Interest on loan
Ongoing loan fees
Property Managment fees
Council/Water rates
Body Corp
Building Insurance
Landlords Insurance
Land Tax
Depreciation

Selling IP:
Agent selling fees and commissions
Solicitors fees
Discharge of mortgage registration

Please add to the list any expenses I have missed...

 

[AdvanTax Group]

Holding:

Cleaning
Gardening
Pest Control
Some VCAT fees
Repairs and maintenance
Stationery/phone/postage
Travel

As for the other groups, some of these are borrowing costs (amortised over 5 years)and some are capital and form part of the cost base of the asset if/when sold.

Cheers