Knowing what you can and can’t claim in relation to your investment property is an increasingly growing challenge, especially with the Taxation Office cracking down on rental deductions.
In the current real estate market, maximising the use of your investment property expenses is extremely important with inflation and interest rates rising.
Knowing what can and can’t be claimed each year is an increasingly growing challenge, especially with the Taxation Office cracking down on rental deductions.
Separating the difference between expenses you can claim in full, ones you must apportion or even depreciate can seem like a daunting task, but when done correctly, investment property owners may be reducing their tax significantly or even creating a negligible tax liability.
At Saward Dawson, we are experts when it comes to finding the best tax outcome for your properties. If that is to reduce the taxable income from the property each year, or even find the best outcome when capital gains tax arises when you sell your property.
Whatever the case may be, with Saward Dawson, you can know that when your income tax return is lodged, you got the best result from your property.