Tax Claims.
I have lived in my PPOR nearly 12 months now and have paid the rates, body-corp fees etc etc gerneal expenses on my PPOR.
I wanted to know when i do my tax this year that is end of June 2010, what can i claim back from my taxes for the year july 2009-june2010
Can i put in my bodt corp fees, council rates, water, electricity for my own place?
Need some information regarding this oh if someone can point me to the right direction.
Thanks.
There is nothing you can claim if the property is your PPOR (the odd exception being if you work from home and claim a poprtion of the overall living area for business).
If the PPOR became an IP during the year then the claim is proportional from the day the property was available for rent until the end of the financial year.
Richard Taylor | Australia's leading private lender
The trade off is later on when you sell it and get a capital gains tax exemption on your main dwelling / PPOR
BIG ZERO, NIL, Zilch, Nehi, 0,
Assuming you are in Australia then generally nothing unless your home has been used to produce income – eg renting out a room, farming, or use of an office for a work related activities.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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