All Topics / Legal & Accounting / Can I claim stamp duty / loan establishment costs

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  • Profile photo of indigo_violet1625738indigo_violet1625738
    Member
    @indigo_violet1625738
    Join Date: 2003
    Post Count: 14

    Hi all,

    I purchsed my first property in 2003 which I lived in for a short period of time to meet FHOG requirements, since mid 2004 the property has been rented out and I am about to submit my first tax return reflecting the rental income/exps etc. My question is- can I claim the stamp duty/ loan costs as the property was originally my PPOR?

    Profile photo of carl_viccarl_vic
    Participant
    @carl_vic
    Join Date: 2005
    Post Count: 73

    Hello

    Stamp duty can’t be claimed period. However I believe that since loan establishment costs are claimable over 5 years normally I’m sure you could claim what remains of this. I.e. if you lived in it for, say, 12 months you can claim 80% of the costs over the first 4 years of renting it out.

    Cheers

    Profile photo of ChinaPowerChinaPower
    Participant
    @chinapower
    Join Date: 2005
    Post Count: 5

    Non deductible
    will be add to the cost base of your property and used to calculate your capital gain once you sell the property.

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