A few tax questions on land with the intent of becoming an IP

Hi,

I need help with a few tax related issues. I don't have an Accountant or anyone professional to help me at the moment as I'd like to understand it myself.

Purchase a block of land to build a new home on and rent out. This is my first IP. I had the land and loan settled just before June 30 this year and I'm not sure exactly what I can claim from this. I already have the plans drawn up and construction starts next week.

From reading the ATO website, I can claim the following:

– Bank fees

– Stam Duty (only on loan and not on land)

– Loan Interest?

– Other fees (soil test costs, plan costs, etc)?

The loan interest I'm not sure on because this is only land at the moment and not income producing. This is an IP though so intent is there. The ATO website states that you can claim the interest on the loan if the land is being used as an future investment. Is this correct?

With other fees, can I actually claim these types of things? Plan costs are over 3k and soil test costs are minor but a cost none the less.

Also, is there anything else I can claim? Can I claim the deposit I used for the land (over 30k) or anything else? I have a construction loan now but that was started after June 30 so everything in regards to that will go into next years tax.

Also, because I'm so raw at this, maybe it might be worthwhile to have someone professional help me. Would I look at Accountants or who specifically? South Eastern Suburbs or the in the City (Melbourne) would be best if anyone can recommend someone.

Thanks