9 Likes
3 Followers

Is it possible to claim the GST for the expenses on my investment property?

8 years ago

Comments

Kelvin Mason

Current Rating: 4.72 / 5

Finance Broker

Kellyville, NSW

Best ask an accountant - but I would expect yes if you have an ABN + GST and your business includes investing.

Responses

Louisa Sanghera

Current Rating: 4.67 / 5

Finance Broker

North Turramurra, NSW

8 years ago

Hi Lisa, unfortunately as a broker I can't answer that. You will need to ask an accountant.

Ken Olds

Current Rating: 4.57 / 5

Mortgage Broker

Devonport, TAS

8 years ago

Lisa. Hi. Thanks for question. You cannot specifically claim back the GST incurred on costs associated with your investment property.
Even if you were registered for GST in your own business operations, you should keep the Investment property and the business operation separate.
However, given GST does makeup the total cost of a purchase or service, then that cost (inclusive of GST) can be claimed as an expense against the investment property.
Should you wish to get a health check on your mortgage needs, then I would be happy to have a direct conversation.
Best Regards
Ken
1300 ASK KEN
Www.AskKen.com.au

John J Maxwell

Current Rating: 4.88 / 5

Financial Services Executive

Millers Point, NSW

8 years ago

There is quite a lot you can claim on your investment property including interest costs, professional fees, etc especially if you engage a good accountant and engage quantity surveying and a depreciation schedule. Many investors are missing out on thousands of $$$ that can be claimed that they are not aware of. Most cost are inclusive of GST and are considered as such.

John Maxwell
0434544225
john@cocalexconsulting.com.au