All Topics / Legal & Accounting / Stamp duty claim as deduction for investment prop

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  • Profile photo of bacchubacchu
    Participant
    @bacchu
    Join Date: 2004
    Post Count: 62
    April 11, 2005 - 3:44 am

    Is stamp duty tax deductible for investment purposes ? if YES then can i claim it in the financial year returns BUT before settlement on the investment property ? It is an off the plan property.

    Profile photo of DerekDerek
    Member
    @derek
    Join Date: 2004
    Post Count: 3,544
    April 11, 2005 - 3:52 am

    Stamp duty on the purchase of the property is not a deductible expense – it is used to offset any CGT liabilities incurred when you sell.

    Derek
    [email protected]
    0409 882 958
    Property investment advice and researched property in quality locations available.

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