TaxTank provides dedicated functionality for recording capital costs and borrowing expenses, which ensures these are correctly included in CGT calculations and borrowing expense claims (spread over 5 years).
👉 For detailed steps, see: How to Record Capital Costs (including stamp duty and buyer’s agent fees)
What if these expenses show up in bank transactions?
If you’ve received bank transactions for capital-related items, such as:
Pre-purchase costs
Buyer’s agent fees
Initial repairs (not building)
Other capital costs
Borrowing expenses
You can allocate them to the category "Capital, Buying & Setup Costs (Clearing)"
This category will:
Add the expense to the property records for tracking
Not affect your tax or appear in claimable deductions
