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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Maximise “street appeal”: landscape or just tidy up the front garden. Make sure the front of the home is in good condition. Remove any external rubbish, pull down fences if unsightly, pull out dead trees/plants, mow lawns and tidy garden beds. Gutters: have your gutters cleaned, ensuring any dirt, silt, twigs and leaves are removed. Garages and sheds: if these are included on the lease, make sure any …
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Tax depreciation (also known as property depreciation) is a legitimate deduction against assessable taxable income, generated by a residential or commercial investment property. It works by allowing property investors to deduct a portion of the original costs of furniture and fittings and capital works (such as renovations) on their investment property each financial year, over the effective life of that item.
Continue readingWhether you’re looking at purchasing your first investment property or to add to your existing property portfolio, you can now find all of Fitzpatricks Real Estate investment properties in the one convenient location on our website. We have hand selected a group of properties we believe make a strong investment choice. They can all be found on a newly created section of our website here.
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