Hello all,
I have just bought my 2nd investment property in Forest Lake, Brisbane. I reckon it is a good place to buy too, only 18km SW of Brisbane city and a really nice and affordable suburb.
Anyway, can someone help with this question?
I moved out of my first property at the start of the year and got a valuation done on it for Cap Gain purposes. But I have also had to use this valuation so my bank would finance the second property mentioned above. Is the cost of the valuation tax deductable as an investment expense? And if I borrowed the money to pay for the valuation is the interest on the borrowed money a tax deduction?
Any help appreciated and wish all well in their property investing.
Cheers,
Spidey.[}
]Hi Spideyman,
The evaluation, is a tax deductible expense and can be claimed.
Cheers,
sisI thought that if it was to do with a non-investment asset then it couldn’t be claimed but it is because it is being used for a new investment that it is deductible?
can anyone clarify?
cheers,
bluecatDo today what you want to do tomorrow
Originally posted by bluecat:I thought that if it was to do with a non-investment asset then it couldn’t be claimed but it is because it is being used for a new investment that it is deductible?
can anyone clarify?
Yes it can… [:o)]
Cheers,
sis
]
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