Broker fees- tax deductible?

Discussion in 'Accounting & Tax' started by Jamesaurus, 2nd Jul, 2018.

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  1. Jamesaurus

    Jamesaurus Well-Known Member

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    If a broker charges an upfront fee for providing 'credit assistance' for an investment property loan- is this tax deductible?

    I'm trying to find a link to ATO/ruling on this one?
     
    Jamesaurus, 2nd Jul, 2018
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    It would be a borrowing expense deductible over 5 years or life of loan if shorter
     
    Terry_w, 2nd Jul, 2018
    #2
    Simon Moore, Paul@PAS and Jamesaurus like this.