Hi, I opted in for the NSW annual property tax in lieu of one-off stamp duty payment when I bought my owner-occupied property. Once this property has been converted to investment, am I allowed to use the property tax as deductions since this is annual anyway? Or would it still form part of capital cost?
Hey @marinettesj
One of the listed rental expenses you can claim now is for the land tax and so, yeah you would be able to claim an annual amount of state property tax as it is an ongoing expense for your rental property. Obviously, this is only for the period where it was genuinely available for rent.
Hey @marinettesj
One of the listed rental expenses you can claim now is for the land tax and so, yeah you would be able to claim an annual amount of state property tax as it is an ongoing expense for your rental property. Obviously, this is only for the period where it was genuinely available for rent.
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