I am aware that borrowing expenses are deductible over 5 yrs and immediately if less than $100.
Borrowing expenses covers many things like valuation fees, loan stamp duty, establishment fees, etc.
My question is does the $100 limit apply to the SUM of borrowing expenses ? Or to each individual component of it ?
For example, if the valuation fee is $90, can I deduct it in the 1 year ?
Hi Bennido,
The $100 limit applies to the sum of all costs – and as you can appreciate there would be very few investors who get the immediate write off.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Thanks for the reply, derek. I thought as much but in a literary sense, the ATO publication wasn’t 100% clear.
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