All Topics / Legal & Accounting / Buyers agent fees

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  • Profile photo of NHGNHG
    Member
    @nhg
    Join Date: 2010
    Post Count: 198
    April 24, 2012 - 8:23 pm

    Hi

    Are buyers agent fees tax deductible at any point? Can they be added on as a capital expense when determining CGT at sale of the property?

    This is for an IP.

    Thanks!

    NHG

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    April 25, 2012 - 12:03 am

    Hi NHG

    I'm not an accountant and would always recommend you seek professional advice but my understanding is that it's treated as a capital expense when determining CGT – however, if you used a loan for the BA's fees, the interest should be deductible.

    Cheers

    Jamiie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: info@passgo.com.au

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    April 25, 2012 - 6:18 am

    Depends what the fee is for

    See one ATO view here

    ATO ID 2009/9

    Income Tax
    Deductibility of expenses: property buyers agent's fee
    http://law.ato.gov.au/atolaw/view.htm?docid=AID/AID20099/00001

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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