Stamp duty on the purchase of a property which will later be sold using GST margin scheme

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(Newbie)Newbie

27 Apr 2023

I am a property developer and I saw that stamp duty and legal fees on the purchase of my property should be a capitalizable amount if I am to enter a CGT transaction. However, being a property developer, the sale of my property is as sale (ordinary course of business) and not a CGT transaction. And in computing for the GST, I cannot include it as cost of purchase. How should I record then these stamp duties and legal fees? (expense or still capitalize)?

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