Can I claim stamp duty on my investment property loan?

[RogueLark99]

Is stamp duty deductible for an IP?
For example, I borrow $500k for an IP, and there is $20k stamp duty. Can the loan then be $520k, interest deductible?
Thanks, guys.

 

[djblakonishi]

Stamp duty isn't a tax deduction. It adds to your cost base, which reduces the capital gains tax you pay when you sell. Interest on a loan secured to pay for it is

 

[June]

Only if you have equity in another property and sufficient borrowing capacity

 

[JpnVenBilboSiyGuy]

You can't deduct money spent purchasing an investment.