I have purchased a house and land package for investment purposes. The build is already half way through. I have couple questions on what I can claim during this time and for the rest of the build time.
Question 1
I'm aware that stamp duty on the land purchase and solicitors fees at settlement are added to the cost base for a later CGT event when I sell in 10 years or so. But what about bank fees that were charged at land settlement including Lender's Mortgage Insurance? Are those claimable or added to the cost base.
Question 2
I was under the impression that loan interest payments during the build are not immediately claimable. However, I have been given an opinion from an experienced investor that the loan interest associated with the build component of the purchase, not the land, is claimable during the build. Could I please get advice on wether this is correct?
Many thanks
Jeff
428 views
1 replies