Stamp Duty payable on investment Properties in Canberra

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

markh3084
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@markh3084
Join Date: 2010
Post Count: 43
January 22, 2013 - 4:57 am
Hello All,
Can anyone tell me whether the purchase of an investment property in ACT allows you to claim the stamp duty in the first year of purchase due to ACT's lease hold arrangements. More importantly, what is the ATO ruling reference for this?
I did just reply to another post on this matter so sorry for doubling up, but it's worth a few dollars.
cheers
Mark
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
January 22, 2013 - 6:51 am
Yep you can.
I don't have a reference for you though.
My understanding is that there are some changes occurring (or changes may have already occurred) to properties that are once IPs then become PPORs – you may not be able to get away with claiming SD on those properties and then moving into them later.
Cheers
Jamie
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Terryw
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@terryw
Join Date: 2001
Post Count: 16,213
January 22, 2013 - 9:41 am
I haven’t got any references to legislation, but should be easy to find in the tax books.
See this ATO document which i found in 5sec on google
http://www.ato.gov.au/individuals/content.aspx?menuid=0&doc=/content/00270214.htm&page=9
Look under lease document expenses.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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