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Non-capital costs of ownership for dwellings purchased before 21 August 1991

Do you know you can add non-deductible interest and other non-capital costs related to your house to the cost base?

This opportunity generally arises only when the house was acquired on or after 21 August 1991. However, if the house is used to produce income for the first time after 20 August 1996, you can include these non-deductible costs after the first income time. This could substantially reduce the capital gains if the house is partly used for income producing purposes.

For more information, contact Matt Zhou to discuss your circumstances.

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