Gday all,
Im new to the investment game and as such do not currently own any properties.
I have spent an amount of money on research, travel and such for setting up my investments and are wondering if any of it are tax decuctable.The problem i suspect is, that i do not yet own any investment properties
Any feedback would be most appreciated.
Many thanks
Nick
I don’t think they are. They would possibly be treated as capital expenses, so you may be able to claim them if you sell a property at a later date.
If you are using a trust, then they possibly could be claimed by the trust.
I am not an accountant.
Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
I believe no but check with an accountant.
Some costs may be attributed against purchase of your first IP.
but again – speak to a professional.
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I asked a similar question at work recently but was unable to get an answer, so I’ll throw it out here.
If I subscribe to shares in an IPO, using borrowed money, say $50,000. If at allotment time recieve no shares in the IPO and subsequently get my $50,000 cheque back 2 months later, can I claim the interest on the loan for an investment that never eventuated ?
I guess this is similar to costs incurred to looking for an IP, even though you may not eventually buy it, or you may buy 1 out of the 50 you looked at.Mal
Getting out of your comfort zone, can help you become comfortable
thanks for the reply’s, i will go find an accountant [specool]
You must be logged in to reply to this topic. If you don't have an account, you can register here.
