2,923 views
2,923 views2 replies
2 replies
2,923 views
2 replies
This thread is archived and the information may not be up-to-date. You can't reply to this thread.
Hi @ryans291,
Given the value of your friend's business asset, the mortgage loan book, I'd strongly recommend she seeks professional advice on managing her asset.
A mortgage loan book is regarded as an active, CGT asset for a business. So the capital gains tax treatment applies rather than the depreciating asses rules.
She can certainly claim a GST credit on her BAS but cannot deduct the capital cost of the book purchase. That will form part of her CGT cost base which will be used in the future to calculate her capital gain when she sells the book again.
All replies
Hi @ryans291,
Given the value of your friend's business asset, the mortgage loan book, I'd strongly recommend she seeks professional advice on managing her asset.
A mortgage loan book is regarded as an active, CGT asset for a business. So the capital gains tax treatment applies rather than the depreciating asses rules.
She can certainly claim a GST credit on her BAS but cannot deduct the capital cost of the book purchase. That will form part of her CGT cost base which will be used in the future to calculate her capital gain when she sells the book again.
Featured articles
7 Apr 2026 · 2 min read time
22 Apr 2024 · 3 min read time
15 Apr 2026 · 4 min read time