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Base Cost

Posted 1 December 2015 under Tax Questions


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Nic says:
26 November 2015 at 21:14

I am selling a rental house. Will the interest on my bond over the period of ownership be part of the base cost?

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TaxTimTaxTim says:
26 November 2015 at 22:14

No that was deductible against the rental income earned.


Nic says:
30 November 2015 at 15:57

What is I stayed in the house for a period and did not rent it out? Will the intrest on my bond for that period then be a part of base cost?


TaxTimTaxTim says:
1 December 2015 at 8:40

No, interest on bond payments will never be part of the base cost. If you did any renovations or improvements, these would be added to the cost.


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