Hey all, Firstly i just wanted to say what a great site this is. Also I was wondering if anyone on here could help me find more information about selling an investment property and items i could add to the cost base and item i can claim against my taxable income. I have gone on the ato site but info seems to be generic and not as detailed as i'd like Thanks Gman
There are multiple elements to the cost base. https://www.ato.gov.au/General/Capi...-cost-base-/?page=2#Elements_of_the_cost_base Examples : Property + Land Purchase Price Land - Purchase Price Building Construction Acquisition Costs - Do not include any costs for which a tax deduction has (or will) be claimed Legal fees to acquire Buyers Agent Broker (not loan broker) Auction fee charged to buyer Valuer / Surveyor Transfer of Title - legals Stamp Duty less FHOG Search fees on acquisition Bank title fees Mortgage discharge fees charged to buyer incl SOME break costs Costs of Ownership - For which a tax deduction has never been claimed Interest Rates Land Tax Repairs & Maintenance Initial repairs & later capital improvements : Insurance (Building only) Fencing Landscaping and horticulture Rezoning DA Fees Survey boundary Council fees Subdiv costs prior to subdiv sale Costs to Preserve Ownership Legals re Land & Enviro Council matters
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