You can add capital costs such as stamp duty, legal fees and other capital expenses including buyers agent fees at any time by editing a properties details. Simply head to the 'Property tab' and select the 'Edit Property' to open the 'Edit property' popup. Then enter the total of each capital cost in the relevant fields, upload a copy of your settlement letter and select save.
All capital costs will be automatically included in the 'Sell Property' feature to ensure the property cost base and capital gain is both accurate and minimised should you ever decide to sell.
Got bank transactions to allocate?
If you’ve got transactions related to capital costs, such as pre-purchase expenses, buyer’s agent fees, or borrowing costs, you can allocate them to the category "Capital, Buying & Setup Costs (Clearing)"
This will add the expense to the property's records for tracking purposes, but won’t affect your tax. It’s a great way to keep everything in one place without impacting your claimable deductions.
Important: The amounts entered in Edit Property are what will be used to calculate CGT. All capital costs added here are automatically included in the Sell Property feature, ensuring your property’s cost base and capital gain are accurate and minimised if you ever sell.