When a property becomes income producing many expenses related to the property, including insurance, rates and management fees, are tax deductible Property depreciation is an important additional tax deduction claimed for the natural wear and tear of an income producing building and its assets over time.
Transitioning from owner occupied to landlord offers a pathway to leveraging a property for financial gain and potential capital growth but there are factors to consider to ensure the transition is both compliant and financially rewarding.
Are you confident that you are claiming every tax deduction available on your investment property?
Paul has Tax depreciation experts to assist and guide you in this “Health Check”. Contact Paul on 0417 567 747 to further discuss.