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  • E Did you have any body corporate fees?

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    NO

    Leave blank and go to label F

    YES

    Calculate your deductible body corporate fees and write the amount in the boxes provided. Do not show cents.

    What you need to know

    Payments to a special-purpose sinking fund are usually to cover the cost of capital improvements or capital repairs and are therefore not deductible. (You may be able to claim a capital works [special building write-off] deduction for the cost of capital improvements or capital repairs once the cost has been charged to the sinking fund -see label R).

    You can only claim an expense once. If body corporate fees cover expenses that can be shown elsewhere on the schedule -for example, maintenance of the gardens and insurance on the building -write the total amount of fees at E. Do not show these amounts twice by including them here and also at labels J or K.

    Last modified: 20 Oct 2015QC 27495