Julia's Blog Owning a Rental Property
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Category «Owning an Investment Property»
Do you need a Depreciation Schedule and Why?
Download PDF What Properties Qualify for Building Depreciation Properties built or renovated after 16th September 1987 will have some building depreciation left to claim. To work out if it is worth it, make a rough guess just how much the building or renovation would have cost back when it was done and multiply that by …
Year End Tax Strategies For Property Investors
Download PDF General Deductions: You can only pay a maximum of 12 months in advance. In the case of interest payments check if the bank will let you do this and that they do treat it as an interest payment not just let it reduce the loan balance. If you pay rates, insurance or body …
If Your Home or Investment Property Has Been Damaged in the Fires – Updated 8th April 2022
Download PDF – Updated 8th April 2022 If your Home or Investment Property Was Damaged in the Fires or the Floods, The taxman is lurking behind those new green shoots of regrowth and what a bonanza to be had. The ATO can easily administer through already established data matching with land titles offices and insurance …
Claiming Property Expense When Not Rented
Claiming Property Expense When Not Rented The big question is – “What is Exceptional Damage Beyond Your Reasonable Control?” The answer in the case of the above photo would depend on a DNA test because if your family does the damage, no tax deduction. What a segue! Sounds a lot more interesting than discussing …
Do You Have Enough Houses To Be Allowed To Transfer Them To Your SMSF
Transferring Residential Property To Your SMSF If you own a property that you want to transfer to your SMSF the transaction must take place at market value but it must also be a property that is used “wholly and exclusively” in a business, though not necessarily your business. Commercial property is fine of course as …