We bought an investment property last year, and it's our first, so we're trying to figure out how to do our tax return.
Is our stamp duty and lawyer costs tax deductible? Like say, if I purchased a house for 600k, and I paid 630k after all the lawyer fees and stamp duty, do I just say the house cost 630k (so if I say sold it for 700k, only 70k would be capital gains) or is it more that the house cost 600k but I should be able to claim the 30k as tax deductible?
Also, are bank fees on your investment property tax deductible? I know the interest is but say, there is an annual fee of $395, would that be tax deductible?
I'm in Australia.