Hi Everyone,
I am in the process of building my first investment property.
Building is ongoing and I was hoping to have tenants in by now, unfortunately we've had a bad run of weather and it's been set back and I have been told that they hope to have it finished by the end of the month. Though I am thinking it will be pushed back again.
With tax time all but upon us my question is, Am I able to still make claims on this property for this financial year?
Thanks you.
yes. see the Steele case for authority.
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
TR 2000/17W
Income tax: deductions for interest following the Steele decision
http://law.ato.gov.au/atolaw/view.htm?locid=%27TXR/TR200017/NAT/ATO%27&PiT=99991231235958
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
Sorry, that one was withdrawn, try this
TR 2004/4
http://law.ato.gov.au/pdf/pbr/tr2004-004.pdfTerryw | 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
I think you should take some legal advice.Because attorney is the person who is aware with the current rules and regulation.
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