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From: Deborah R
Hi Forum,
I started seriously looking at property about three months ago and realised the more I investigated the more I needed to know before I took the plunge and made my first investment property purchase.
My query now is this:
I have spent approx $700 on research reports, computer software, magazine subscriptions, books etc and there is a seminar I want to attend which will cost me about $3,500 in june. This takes my expenses to over $4,000 but I am concerned that this may not be tax deductible because I have not yet made a property purchase which is producing income in this financial year. I know I need to talk to my accountant but I'd appreciate any comments from other forum members.
Thanks in advance, Deborah
Hi Forum,
I started seriously looking at property about three months ago and realised the more I investigated the more I needed to know before I took the plunge and made my first investment property purchase.
My query now is this:
I have spent approx $700 on research reports, computer software, magazine subscriptions, books etc and there is a seminar I want to attend which will cost me about $3,500 in june. This takes my expenses to over $4,000 but I am concerned that this may not be tax deductible because I have not yet made a property purchase which is producing income in this financial year. I know I need to talk to my accountant but I'd appreciate any comments from other forum members.
Thanks in advance, Deborah
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