K Kevmeister 24th Jan, 2003 #1 Just a clarification. ATO allows purchase costs associated with a property to be written off over 5 years. Does this include the usually large sum of stamp duty owing to Transfer-of-Title?
Just a clarification. ATO allows purchase costs associated with a property to be written off over 5 years. Does this include the usually large sum of stamp duty owing to Transfer-of-Title?
DaleGG 24th Jan, 2003 #2 Hi No, the ATO allow borrowing costs to be written off over 5 years or the life of the loan, whichever is the lesser. The purchasing costs are not deductible in any way (unless you buy in the ACT) but, are used to reduce the CGT when you eventually sell the property. Dale
Hi No, the ATO allow borrowing costs to be written off over 5 years or the life of the loan, whichever is the lesser. The purchasing costs are not deductible in any way (unless you buy in the ACT) but, are used to reduce the CGT when you eventually sell the property. Dale