The Australian Tax Office (ATO) will look closely if it knocks on your rental property door. Knowing what can and cannot be deducted as a legitimate tax expense can be a minefield when it comes to investment property. Late last year it notified tax agents of the continuing rental audit program of their clients that aims to ensure taxpayers do not over claim rental deductions. …
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There are all sorts of tax implications associated with investing in real estate and for some, tax relief is one of the main reasons we choose to buy residential property. However, while there are tax breaks attached to this type of investment, remember that the best way to build your wealth is to make a profit, not simply to reduce your tax liability. deductible expenses checklist …
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Do you need to save for large capital expenditure items to be completed on your investment property e.g. replacement of gutters, painting of external woodwork, new carpet, upgrading your appliances etc.? We can help by setting up a capital works fund just for you. Not only will this help you plan for major works to ensure your asset is well maintained, it also assists in reducing the burden of paying those large bills for …
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