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JDal(Initiate)Initiate
21 June 2022

Hi 

I am in processing of purchasing an investment property in ACT. 


I understand the stamp duty cost can be treated as a tax deduction (assuming property is a true investment property i.e. is rented/ available to rent)


However, there seems to be some contradictory advice on the community forum and I'm not clear exactly what date the stamp duty cost is treated as "incurred" for the purpose deciding which tax year it falls into.


Is it:


a. date the sale contract was signed (exchange)

b. date the purchase completes/ is settled

c. date the stamp duty is paid

d. another date


Thanks very much for your help

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1,025 views
3 replies

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JodieR_ATO(Community Support)Community Support
5 July 2022

Hi @JDal,


We appreciate you bringing this to our attention. Stamp duty in the ACT is different due to the 99yr Crown lease. From your 2nd linked post there's a link to the ACT Revenue office info' on Stamp Duty. It advises - Duty rates and thresholds depend on the date of your transaction. The transaction date is the date of the grant, transfer or agreement for transfer – whichever comes first. It’s not the settlement date.

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Bruce4Tax(Taxicorn)Taxicorn
22 June 2022


I understand the stamp duty cost can be treated as a tax deduction (assuming property is a true investment property i.e. is rented/ available to rent)


Correct, because ACT land is always leasehold.


a. No, because deal could fall through and no stamp duty actually paid.

b. This would be the date incurred = date I would use

c. Will not be much different to b.

d. Could be the date the transfer is registered, but that should be the same as c.





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Date that ACT stamp duty expense is incurred | ATO Community