Property investment
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Investment properties have proved to be very popular for Australians
as they start to consider planning for their futures. There are quite a
few options you need to consider for your investment property to ensure
you are minimising your tax.
We can advise you at every stage of the process from sourcing property and
financing, through rental and eventually, sale.
Positive gearing and negative gearing - The ATO allows you to claim
negative gearing on the assumption that eventually properties will become
positively geared. You should be aware of the implications. |
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Property development - Are you considering subdividing your property
or commencing a development project? Are you buying a property to renovate and
sell? You may need to be aware of GST and income tax considerations.
Capital gains are taxable upon signing a contract of sale and can have
a major impact.
Ownership structure - Who should be listed as the owner? What impact
does this have on tax during ownership and at sale? There are also estate
planning and legal implications.
Interest - You can claim a deduction for the interest incurred on
funds borrowed to acquire an investment property but there is a lot to know.
Renovations and building works - These can be claimed as depreciation
of fixtures and fittings.
Investment properties are popular but there is a lot to know.
For more information, or to book an appointment, contact Samantha Keats at Saward
Dawson.
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