Pricefinder subscription - deductible?

If I subscribe to pricefinder for a year (paying monthly) and then found my IP through it. Would I be able to deduct all of the cost as a deductible?

 

No.

 

That's interesting to know.

But I believe that investment magazines subscriptions are claimable (please correct me if I'm wrong). Why is it the case that the magazines are, but the research website isn't?

 

The expenses relates to acquisition of IPs not the management and issues associated with producing assessable income. Only costs which are associated with production of assessable income are deductible. There are loads of costs which are preliminary to acquisition that aren't deductible ie travel, meals (private), BA fees, inspection etc.

 

If the mag relates to property and you don't own one its not deductible. If the mag relates to acquisition it may not be, if the mag is unrelated to property its not.

 

For a business who often uses it to learn local market conditions and do searches on clients / comparable properties, I'd say it's deductible.

If you're using it to find an investment property, I'd say not.

 

Oh boy, talk about confusing……

Here's a question - if I subscribe to 'Money' magazine, and I already own (and continue to purchase) shares, as well as other forms of investment (such as an IP), is that magazine deductible?

 

Do the shares produce an income?

 

I'm not sure if that's the test. Houses produce an income and pricefinder isn't deductible for people looking for an IP to buy.

 

S 8-1

If an expense relates to the production of income it will be deductible.

Subscriptions to price finder wont be because it is incurred too soon. Doesnt relate to current income.

 

What if it also has a portfolio manager in its suite of tools as with Investar Search
https://www.realestateinvestar.com.au/ME2/Default.asp

 

Thanks for the info, @Paul@PFI. I thought BA fees were deductible.

 

Counts towards the purchase cost of the property, so is 'deductible' towards the CGT if you sell the property.

 

Thanks @D.T

 

If it relates to rental income of existing properties it could be deductible in part or full

 

Agree but they own shares already.