Loss of $1500 during purchase

Discussion in 'Accounting & Tax' started by Sady.Sydney, 5th Jul, 2019.

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  1. Sady.Sydney

    Sady.Sydney Well-Known Member

    Joined:
    22nd Jun, 2018
    Posts:
    79
    Location:
    New South Wales
    I am hoping someone could assist me.

    I was looking for an investment property where I paid close to $1500 deposit, strata and building report. I had to rescind the contract due to issues with the vendor.

    From tax perspective, can I claim it this year? I am not planning to buy at this stage so this is a financial loss.

    Thank you
     
    Sady.Sydney, 5th Jul, 2019
    #1
  2. kierank

    kierank Well-Known Member

    Joined:
    20th Jan, 2016
    Posts:
    8,415
    Location:
    Gold Coast
    I dunno.

    If it was me, I would be asking my accountant/tax agent.
     
    kierank, 5th Jul, 2019
    #2
  3. Propertunity

    Propertunity Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    3,476
    Location:
    NSW
    No. It is not claimable in any financial year. You do not own the property to claim the expense against. :(
     
    Propertunity, 5th Jul, 2019
    #3
    Terry_w likes this.