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Rental Property

Did you know that you could be saving thousands of dollars simply by claiming depreciation for an investment property?
Unfortunately 80 per cent of investors are simply unaware of the deductions available for the structure of a building (capital works) and the easily removable plant and equipment assets contained within an investment property. Read more →

Many people are unaware that they are failing to maximise their tax deductions in relation to rental properties and therefore also failing to maximise their rental property returns.  If you have a rental property is always an opportune time to check one such deduction – Depreciation.
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With ongoing low interest rates it seems the hot property market won’t end any time soon. Hand in hand with that is also a boom in investment property ownership. The tax office has always shown a keen interest in investment properties but it has signalled it is specifically targeting this area in 2015 returns.

The emphasis is on making sure people aren’t over claiming deductions. In particular the ATO has said it is paying close attention to the following:

  • Excessive deductions claimed for holiday homes
  • Husbands and wives splitting rental income and deductions for jointly owned properties that is not supported
  • Claims for repairs and maintenance shortly after the property was purchased
  • Interest deductions claimed for the private proportion of loans

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