Tax Tax 70: NRAS Property and Deductibility of Interest and other expenses

Discussion in 'NRAS & NDIS SDA' started by Terry_w, 27th Oct, 2015.

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  1. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Absolutely. 3rd element CGT costs. No ruling needed
    The other costs are the NRAS fee IF its paid by the owner and annual NRAS service fees which are non-deductible
     
  2. Terry_w

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

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    The ATO have recently put this out


    Do your clients have NRAS rental properties?
    Remind your clients they can claim deductions for expenses incurred with their NRAS rental property, apportioned to exclude the state or territory contribution they received. The contribution amount is non-assessable, non-exempt (NANE) income for tax purposes.

    Do your clients have NRAS rental properties?
     
  3. LibGS

    LibGS Well-Known Member

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    I wonder if people knew about the apportionment up front, if they would still invest?
     
    Terry_w likes this.

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