Hello all - I have rented (under a lease arrangment) my commercial property which is under my personal name. I got a commercial bill to finance the purchase. 1. When reporting the rental income on my tax return...........do I exclude the GST component of the rent received? 2. Am I able to claim the following (regarding the commercial bill): - production/lodgement fee, - the commitment fees (read that this isnt deductible as per ATO ID 2010/133), - interest and - handling fees? 3. Please provide any legal references to the above expenses as to whether it is deductible or not. 4. Are there any ATO resources that I can refer to so can claim these items correctly. I know there is a rental properties guide that the ATO publishes every year but havent found much on commercial property deductions esp in regards to these commercial bill fees. Thank you for taking the time to assist me.
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