Purchasing A Property In The New Year?
Although the RBA seems to be of the opinion that consumer spending is proving that the country is in an upswing, the financial lenders have yet to join the party.
It is still difficult to arrange a loan and for this reason there are not that many people being able to bid at auctions for fear of not being able to come up with the funds at settlement (a requirement of auction buying).
Tax Depreciation Schedule
If you purchase a property in the next six months don’t forget to get a Tax Depreciation Schedule written up so that you can claim the full benefit of the depreciation. Always ensure that you use a Chartered Surveying firm to do the job.
TSL Pty Ltd can offer these services throughout Australia so don’t hesitate to contact them on 1300 792 360 and talk to their consultants.
Just to recap too, it is possible to back claim depreciation up to four years so do take advantage of the services.
Renovations
Tax depreciation can also be claimed on capital renovations so do check this out with the quantity surveyors too as over several years this could be worth a substantial amount. Things like new kitchens, new bathrooms, new carpets, new decks, new driveways and retaining walls are tax depreciable.
Filed Under: Interest Rates • Property Investment Tips • Property Websites • Tax Tips
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