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Understand the difference between repairs, maintenance & capital improvements

Property investors often worry about ongoing repairs and maintenance costs however these concerns can often be reduced by claiming back these costs when completing a tax return. Before claiming deductions, it is necessary for investors to understand the difference between claiming repairs and maintenance vs. capital improvements. Repairs The Australian Taxation Office (ATO) defines repairs…

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Fixtures and Fittings or Goods and Chattels – what stays and what goes when you buy a property?

You’ve just made an offer on your next investment property and it’s been accepted.  That’s great news, but what actually comes with the property when you settle?  Is it everything in that you saw when you inspected the property? Clearly not – some of the items in the property belonged to the vendor. You didn’t…

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