Help, Strata or rates. Is this an offset or wiped on capital gains?

Discussion in 'The Buying & Selling Process' started by iamtheeggman, 26th Jul, 2021.

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  1. iamtheeggman

    iamtheeggman New Member

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    26th Jul, 2021
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    Sydney
    Hi, new to forum and about to plunge into property investing

    I am just wondering if you pay the strata or council rates is it the same when you come to sell it like if you claimed for repairs etc on your tax. When you come to sell this is added onto your capital gains correct?

    Thus why it(repairs) is not a write off its an off set that you pay for later.

    I will be looking for positive cashflow and not negative gearing
     
    iamtheeggman, 26th Jul, 2021
    #1
  2. Terry_w

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

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    you cannot claim something and use it as a cost base expense as you would be double dipping
     
    Terry_w, 26th Jul, 2021
    #2
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