Non Current Unexpired Ancilliary Borrowing Costs

<p >You can claim a deduction for borrowing expenses associated with purchasing an asset, such as loan establishment fees, title search fees, and costs of preparing and filing loan documents. (Interest on the loan is&#160;<strong >not</strong>&#160;a borrowing expense, and can be claimed immediately.)

If your total borrowing expenses are more than $100, the deduction is spread over five years or the term of the loan, whichever is less.

If the total borrowing expenses are $100 or less, you can claim a full deduction in the income year they are incurred.

Be sure to use the LodgeIT Calculator to assist in computing the deductible borrowing cost per annum.

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