All Topics / Legal & Accounting / Cost base when building

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  • Profile photo of adamwadamw
    Participant
    @adamw
    Join Date: 2005
    Post Count: 27
    February 22, 2006 - 8:05 am

    Hi

    Just wondering if anyone knows what you can use as the cost-base when _building_ an investment property. Is the cost-base the amount you spent on it, or can you use the first valuation (immediately after completion) as the cost-base? I’m presuming the answer is the former, but would like to confirm.

    Thanks

    Adam

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    February 22, 2006 - 8:16 am

    Adam

    Nice try but regretfully not.

    Wish we could have used the first valuation on a lot of our developments over the past 10 years

    Richard Taylor
    Residential & Commercial Finance Broker
    **Lodoc Commercial loans from 7.39%**
    Licensed Financial Planner
    Ph: 07 3720 1888
    [email protected]

    Richard Taylor | Australia's leading private lender

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