Property research costs

Hi,

Would a subscription to RPData or Residex be tax deductible if I already own an investment property, and I'm looking to purchase more?
My first thought is that it won't, because it's not related to an expense for the income producing property I already have. However, as an employee you can claim training courses or books purchased, if it is related to advancing your career in the field you're already in.

Any information on this would be great!

Thanks

Frosty

 

I am not an accountant but I would say it's not deductible, but it may be possible to add the amount to the cost base when you do make the next purchase.

 

Necessarily incurred in producing assessable income ?? Not likely.