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
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 MeMortgage Broker assisting clients Australia wide Email: [email protected]
Depends what the fee is for
ATO ID 2009/9
Income Tax
Deductibility of expenses: property buyers agent's fee
http://law.ato.gov.au/atolaw/view.htm?docid=AID/AID20099/00001Terryw | 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
You must be logged in to reply to this topic. If you don't have an account, you can register here.
