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Hi
Can anyone please let me know if interest has to be prepaid to be able to claim for the year?
thanks
Expenses can generally only be claimed once they are paid.
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
The ATO produce a booklet Deductions for Prepaid Interest. Link attached.
http://www.ato.gov.au/content/00270253.htm
DAMProperty | DAM Accounting Services
https://www.damaccountingservices.com.au
Viewing 3 posts - 1 through 3 (of 3 total)
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