Which of these costs are deductible over 5 years ?

Thanks Michael
Its a Queensland purchase.

Dale thinks at least the following can be deducted over 5 years.

3. Registration Chanrges Account $ 315.00
4. Stamping Chanrges Account $ 932.40
8. Office Of State Revenue $ 955.85

The others, particularly item 6 we were uncertain about.

On another note, if I am charged panaly interest by the vendor selling the property, due to my bank and solicitor not getting their act together and settling on time, is this pentaly interst deductible over the 5 years or do we add that to the coast base for deduction upon sale ? thanx.

I have a feeling item 6 may be the solicitors for the developer, as I have seen the same amount on two seperate proeprty deals I have done with them.

I read on the ATO rental properties guide that if you obtained the loan part way through the income year, the deduction through the first part of the income year will be apportioned, according to the number of days remaining in that income year, that you had the loan. Thus deduction = ( no of loan days / 365 * expense )

Mike I have learnt one thing over the last week. A property investor needs an accountant who owns investment property.

My experience will lie some testimony to this and the fact that these items were not prompted to me by my accountant. Rather I had to suggest to him that these items may be deductible.

I was assured by the firm that this guy was good as the property accountant was booked out and for the large part he seems ok, but its just not the same if your accountant is not in the IP business himself. He told me that he could ask the other property accountants for help, but its just ain’t the same if you don’t know what to ask in the first place and the others are busy anyway, to busy to be bothered with a small fish I’m sure.