Dollar percentage you can claim on tax with IP's

Discussion in 'Accounting & Tax' started by Ethan_89, 24th Dec, 2015.

Join Australia's most dynamic and respected property investment community
Tags:
  1. Ethan_89

    Ethan_89 Member

    Joined:
    18th Oct, 2015
    Posts:
    22
    Location:
    Brisbane
    Approximately how many cents to the dollar can you claim in tax on expenses such as body cooperate fees?
     
    Ethan_89, 24th Dec, 2015
    #1
  2. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,226
    Location:
    Sydney or NSW or Australia
    Up to your MRT - vague enuf?
     
    Scott No Mates, 24th Dec, 2015
    #2
  3. Terry_w

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

    Joined:
    18th Jun, 2015
    Posts:
    41,938
    Location:
    Australia wide
    You can claim 100% of an item if it relates to your property investment. But you will 'get back' your marginal tax rate x the expense.
     
    Terry_w, 24th Dec, 2015
    #3
    Ethan_89 likes this.
  4. Ethan_89

    Ethan_89 Member

    Joined:
    18th Oct, 2015
    Posts:
    22
    Location:
    Brisbane
    "Enough"
     
    Ethan_89, 24th Dec, 2015
    #4
  5. Ethan_89

    Ethan_89 Member

    Joined:
    18th Oct, 2015
    Posts:
    22
    Location:
    Brisbane
    Thank you Terry, It was a simple question I know but just preparing facts and figures for the future. I'm not 100% certain my tax accountant is pulling there weight for me......
     
    Ethan_89, 24th Dec, 2015
    #5
    Terry_w likes this.
Buy Property Interstate WITHOUT Buyers Agents!

Buy Property Interstate WITHOUT Dropping $15k On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia