FAQ 62 How do the costs for setting up a Trustee and Trust get claimed?

We have an answer from the ATO. Their take is that the property is income producing therefore it falls under the definition of being an expense needed to produce an income in much the same way that a business would operate.
The setup costs are therefore claimable by the trust over a 5 year period.

Please access http://www.ato.gov.au and perform a search for \’Blackhole Expenses\’

Regards
Michael and Sara
Ultimate Coaches