All Topics / Legal & Accounting / Are buying costs claimable?

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  • Profile photo of LancehaterLancehater
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    @lancehater
    Join Date: 2008
    Post Count: 19
    July 15, 2010 - 4:48 am

    Do i claim buying costs such as stamp duty, buyers agent fees, loan set up fees in my end of year tax?
    Or are these just claimable when you sell?

    Profile photo of Dan42Dan42
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    @dan42
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    July 15, 2010 - 5:23 am
    kylieandronnie wrote:
    Do i claim buying costs such as stamp duty, buyers agent fees, loan set up fees in my end of year tax?
    Or are these just claimable when you sell?

    Stamp duty and buyers agent fees are added to the cost, and in effect claimed when you sell.

    Loan set up fees are claimable in your tax return, but over 5 full years. They are not all claimed in the current year.

    Profile photo of LancehaterLancehater
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    July 15, 2010 - 5:26 am

    Thanks mate!

    Profile photo of wonderlandwonderland
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    @wonderland
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    Post Count: 22
    July 20, 2010 - 1:27 am

    Are buyers agent fees only claimable when you sell your IP?
    So if you plan on keeping your IP, you'll never see any of that money back?

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