Hi all, I'm new here, am just in the process of buying my first IP and this is my first post...
I've had a good look around but keep finding conflicting answers - can I claim conveyancing as an expense?
Some places say I can claim it, as long as it doesn't exceed $10k
Others say I can claim the mortgage cost portion, but not the rest
Others say I can't claim it.
IRD's IR264 says that I can deduct as an expense 'any fee that I incur in arranging a mortgage to finance the rental property' which could be read both ways.
Anyone? (And thanks in advance)
I've had a good look around but keep finding conflicting answers - can I claim conveyancing as an expense?
Some places say I can claim it, as long as it doesn't exceed $10k
Others say I can claim the mortgage cost portion, but not the rest
Others say I can't claim it.
IRD's IR264 says that I can deduct as an expense 'any fee that I incur in arranging a mortgage to finance the rental property' which could be read both ways.
Anyone? (And thanks in advance)
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