A archk 17th Jun, 2014 #1 Hi, I was just wanting to confirm if the purchase cost on an IP is deductible now or only when the asset is sold. The costs that I am referring to are the fees for BA, Stamp duty, building inspection... Any feedback would be greatly appreciated.
Hi, I was just wanting to confirm if the purchase cost on an IP is deductible now or only when the asset is sold. The costs that I am referring to are the fees for BA, Stamp duty, building inspection... Any feedback would be greatly appreciated.
A alexlee 17th Jun, 2014 #2 Capital in nature. Added to the cost base and decreases capital gains when sold.
T tess85 17th Jun, 2014 #3 Also if you are borrowing the BA fees, stamp duty etc, the interest is tax deductible.
