All Topics / Legal & Accounting / Claiming expenses prior to settlement?

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  • Profile photo of JodyJody
    Participant
    @jadriaansegmail-com
    Join Date: 2018
    Post Count: 1
    June 21, 2018 - 8:58 pm

    Hi guys,

    I need some advice. Our property settles next month (mid July) and I wanted to know if I take out landlord insurance now, can I claim that expense in this year’s tax return?

    Thanks
    Jody

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    June 22, 2018 - 3:44 pm

    yes should be able to. Interest on the deposit too. Don’t forget council rates as adjusted at settlement

    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

    Profile photo of JaxonJaxon
    Participant
    @jaxona
    Join Date: 2014
    Post Count: 284
    June 27, 2018 - 12:24 pm

    Confirm with a quality accountant but any expenses incurred in that financial year, yes you can claim that year even if it covers X period in the future.

    Kind regards

    Jaxon Avery

    Jaxon | Jaxon Avery – Financial Adviser
    http://www.jpafinancialservices.com.au
    Email Me | Phone Me

    JPA Financial Services Pty Ltd

Viewing 3 posts - 1 through 3 (of 3 total)

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