Things you can claim

Viewing 6 posts - 1 through 6 (of 6 total)

drewster
Member
@drewster
Join Date: 2004
Post Count: 13
March 18, 2004 - 11:10 pm
I was just after a quick rundown of the main items you can claim for on an investment property. I really wanted to know if you can claim body corp and rates. Any other advice would also be much appreciated.
Thanks
Andrew
woodsman
Member
@woodsman
Join Date: 2004
Post Count: 714
March 19, 2004 - 2:58 pm
Andrew,
Advertising
Bank Fees
Body corporate fees
interest on borrowings
depreciation
insurance
property management expenses
legal expenses
You can claim body corporate (just not any sinking fund contributions). Council and water rates are also claimable.
James
alpina
Participant
@alpina
Join Date: 2003
Post Count: 46
March 21, 2004 - 2:49 pm
if i do a building inspection on an ip as part of my due diligence but dont end up buying the property, can i claim the cost of the inspection?
julie
redwing
Participant
@redwing
Join Date: 2003
Post Count: 2,733
March 22, 2004 - 10:14 pm
Julie
This has been posted before..The general consensus is NO, unless you’re specifically in the business of buying and selling many properties
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Derek
Member
@derek
Join Date: 2004
Post Count: 3,544
March 24, 2004 - 11:57 am
Hi Just Starting,
An extensive list of allowable claims is avaailable on the ato websie. I would also recommend a surf through some accountants websites to see if they have something suitable.
Alternatively visit http://www.gatherumgoss.com and purchase Dale’s TAx BAttles manual. For $99 you can’t go wrong.
I also have a fairly extensive list PM with your email address and I’ll forward it onto you.
Derek
[email protected]
Julia
Member
@julia
Join Date: 2004
Post Count: 217
March 28, 2004 - 3:52 pm
Just Starting,
Down load the free rental property booklet from http://www.bantacs.com.au. Just go to Acess and Print Newsflash booklets from the main menu