All Topics / Legal & Accounting / Stamp Duty and Tax ATTN Tax Exp and Accountants !!

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  • Profile photo of samgoudasamgouda
    Participant
    @samgouda
    Join Date: 2013
    Post Count: 19
    May 3, 2013 - 12:32 pm

    Hi All, 

    I am in the process of purchasing an investment property and i will be paying stamp duty. 

    My question is stretch out at tax advantages (if any) or can i use my payment of stamp duty in my EOFY tax return some how ? 

    Is there anything that can or could be claimed back?

    Your feedback and your responses are always greatly appreciated. 

    Thank you in advance ! 

    Regards, 

    Sam 

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    May 4, 2013 - 2:51 am

    Stamp duty on the transfer of land is a capital expense so it can only be claimed against CGT on any sale of an investment prperty.

    Stamp duty on a lease would be an income expense and could be claimed if the property is an investment. e.g land in ACT.

    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

Viewing 2 posts - 1 through 2 (of 2 total)

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