Property Tax Deductions Articles:

Holiday Rental Tax Deductions

Boost Your Holiday Rental Deductions with These Amazing Tips

How to make the most of your Vacation Home Tax Deductions Vacation home  rentals have become a great way for beginners to get involved with investment property. Australia offers plenty of opportunities in this area. However, you also need to know about holiday rental tax deductions in Australia. In recent years, more novice investors have […]

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When Do I Sell My Investment Property?

One thing to remember with property investment is that your entry and exit costs are pretty high. You have to consider stamp duty, your advertising and marketing costs when you sell and the capital gains tax. Overall, you make your money in property when you’re buying. That is, if you buy right. If you think about the developers, they make […]

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Property Genuinely Available For Rent

Rent expenses are deductible to the price that they are incurred for the purpose of producing rental income. Sometimes, rental expenses can be deductible for periods even when the property is not being rented out. However, this is only the case provided the property is genuinely available for rent. This means, the property is being […]

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Repairs And Maintenance On Rental Properties

Deductible tax for repairs and maintenance; Good news! All those pesky repairs and maintenance that need to be made on your rental property are probably deductible in your tax return. For this to be the case, the repairs and maintenance must be directly on the wear and tear of the property or other damage that only […]

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Three Most Commonly Missed Items Property Investors Can Claim

Claiming depreciation on residential property is one of the most important steps in an investor’s journey. But those new to property investing often overlook some important key items of depreciation. The three most commonly missed items property investors can claim are: • Design and professional fees • Council costs • Builder’s profit Most people know […]

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How To Calculate The Diminishing Value Calculation

Have you ever wondered how Washington Brown actually figures out the amount of deductions you will receive? Well, tax legislation sets down the way in which to calculate depreciation using the diminishing value method. Basically, you take the number 200 and divide it by the item’s effective life. For example, 10 years, and express that […]

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Claiming Your Deductions For Your Investment Property

CLAIMING YOUR DEPRECIATION DEDUCTIONS MONTHLY You don’t have to wait until the end of the financial year to claim these deductions. Astute investors can request that their accountant lodge an Income Tax Withholding Variation (ITWV) form. On this form you can estimate your annual depreciation allowance. You can also offset this against your monthly tax, […]

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Holiday Home Tax Deductions

Attention! If you have a holiday investment home, you will be interested in this. To get you up to scratch on the current tax situation, the Australian Tax Office (ATO) has begun increasing its focus on ‘holiday home’ investors. Why the sudden shift in focus? This alteration in tactics is due to the ATO growing concerns with landlords and the […]

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Rental Expenses On Investment Properties

Rental expenses- Did you know? You can claim a deduction for certain expenses you incurred during the period your property is rented or available for rent! Types of rental expenses include There are three types of rental expenses available to investment owners; Cannot claim deductions Can claim immediate deductions in the income year you incur […]

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Beat the End of Financial Year Rush

Simple Tricks For Beating The End of Financial Year Rush Every one exchanges and settles a property on different days throughout the year. However, the end of the financial year only occurs once. As does the end of year rush! Your report should calculate exactly how much money you can claim for building allowance depreciation, […]

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