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 …
Continue reading
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 …
Continue reading
An investment property is often one of the biggest assets a person will own in their lifetime. Most will agree that the reason for owning an investment property is to increase our wealth and to provide long term security for ourselves and our family. When owing an investment property we should be working towards two types of returns: Long term return or capital gain (increased …
Continue reading
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 readingMedian house price for Wagga Wagga remains unchanged at $305,000. Median unit prices in Wagga Wagga have experienced an 8.38% growth, with the median price being $252,000. 120 residential blocks sold in Wagga Wagga for 2011/12 financial year. The number of sales is down 4.2% on the previous financial year. Residential land prices have reduced by 10.5% with the median land price being $123,000.
Continue reading