Announcements
Looking for information on the JobKeeper extension? Check out our answers to common questions the community has been asking.

ATO Community

Interest on Loan for the sold rental property

Highlighted

Newbie

Views 72

Replies 1

Hi,

On tax return form , where should i allocate interest deduction for the rental property that been sold? Still under rental property section or as other deduction on the general deduction section , given the property is not exist anymore?
TIA
1 ACCEPTED SOLUTION

Accepted Solutions
Highlighted

Most helpful response

Taxicorn

Replies 0

@Lee91@Lee91

 

Are you talking about expense incurred whilst waiting for it to be sold or expense after it was sold?

 

Whilst waiting for it to be sold and not advertised for rent it will form part of the cost base for Capital gains.

After it was sold will be a personal expense and not claimable.

 

1 REPLY 1
Highlighted

Most helpful response

Taxicorn

Replies 0

@Lee91@Lee91

 

Are you talking about expense incurred whilst waiting for it to be sold or expense after it was sold?

 

Whilst waiting for it to be sold and not advertised for rent it will form part of the cost base for Capital gains.

After it was sold will be a personal expense and not claimable.