When it comes to tax, unless you are a professional, it can be difficult to navigate your way through the maze.
But understanding the basic taxation laws and your rights as a property investor is imperative to the success of your investment career.
We’ve made it a little easier for you by providing a guide to all the taxation questions you need answered.
Is it a repair to your investment property or an improvement? And does it really matter? Well…yes it does. Expenses that relate to repairs and maintenance of a rental property will usually be deductible when they are incurred. However any work that is considered an improvement, such as installing a new kitchen, will not be…
No one likes to pay more interest on their mortgage than they have to. In fact, if you manage to reduce your home loan in a small way via a discounted interest rate, it can have big positive financial consequences in the years ahead. When homebuyers and investors start out on their property journeys,…
Foreign owners of investment property in Queensland will be slammed with a 1.5% land tax surcharge on assets with a value of $350,000 or more. The state government is seeking additional revenue in order to maintain a wafer-thin operating fiscal surplus. The Palaszczuk government announced the new measure in its 2017-18 state budget, and said…
How long did it take you to drive to work today? I’m lucky – it takes me less than 5 minutes becuase I live close to work, but the average commute is much longer than that and it’s getting worse isn’t it?. Some would say we have too many cars on the road already So…
Investing in property with your super has been extremely popular over the past few years, hasn’t it? And the reasons why are far more interesting than it just being a bit trendy! The main benefit is that super is an alternative avenue for property investing that has very little impact on personal finances or your future…
Are there ways to avoid or reduce paying CGT on investment property entirely? Yes, there are! It’s an unfortunate part of every property investor’s journey that they will most likely eventually be liable for Capital Gains Tax or CGT. But there are a few strategies that can help you minimise your CGT when it comes…
Revenue earned from property taxes has seen a bolstering of state and local government bank accounts with the latest Australian Bureau of Statistics (ABS) data showing that state and local governments nationally collected $49.567 billion (51.9%) of their total taxation revenue from property, a record high proportion and 9.6% higher over the year. Stamp duty…
If you’re looking to get into property investing or move up to the next rung of the property ladder, here are some words of advice on how to invest in property. Property investment is simple, but not easy and that’s not a play on words. It’s not something you should enter into lightly, but for…
An investment property should be selected based on the likelihood of it generating strong capital growth rather than secondary benefits such as rental yield or negative gearing. However, saying that, this doesn’t mean we shouldn’t maximise the gearing benefits of your current or future investment property to save on tax! So, if you’re looking to…
Did you know that you have many options when it comes to deciding the entity that should own your new property? Most property buyers, even seasoned investors, default to simply buying the property in their own name, but this is not always the best and most financially savvy choice. The legally recognised owner of a…
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