Hi there. For other states of Australia, you can use Stamp Duty paid at purchase of an IP to reduced capital gains when you sell ie add to the Cost Base.
In the ACT, the Stamp Duty is tax deductible (it a lease cost) at time of IP purchase. Am I correct is saying that as I claimed a tax deduction at time of purchase, I therefore cannot us the Stamp Duty to reduce the Cost Base for Capital Gains tax purposes?
Thanx in advance
Fizz
In the ACT, the Stamp Duty is tax deductible (it a lease cost) at time of IP purchase. Am I correct is saying that as I claimed a tax deduction at time of purchase, I therefore cannot us the Stamp Duty to reduce the Cost Base for Capital Gains tax purposes?
Thanx in advance
Fizz