All Topics / Help Needed! / tax time – Claiming on an investment property ??

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  • Profile photo of Woody86Woody86
    Member
    @woody86
    Join Date: 2011
    Post Count: 30
    July 15, 2011 - 7:31 am

    Hi Guys

    Was just wondering if Stamp duty and mortgage insurance was claimable for an investment property

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    July 15, 2011 - 9:04 am

    Hi James

    Stamp duty is added to the cost base when calculating CGT. So it's claimed when selling up. The ACT (and possibly NT) are notable exceptions.

    LMI is generally claimable over 5 years (or the term of the loan if it is shorter than 5 years).

    Cheers

    Jamie

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

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of Woody86Woody86
    Member
    @woody86
    Join Date: 2011
    Post Count: 30
    July 15, 2011 - 10:51 pm

    Thanks again Jamie. Much appreciated

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