Tax Deductions For Your Rental Property
Shane Hiscock
Director at Locate Buyers Agency | Brisbane’s 5-star property buyers agent | Taking the stress out of property acquisition
Hi all. Found an excellent article that I am sure many will relate to. Hope you get something useful out of this...
Property Investors are targeted each year by the Australian Taxation Office (ATO) so it’s important that you know what you can – and cannot – claim as a tax deduction.
Basically, you can claim anything that is incurred on the investment property, but expenses however, are broken into 2 categories and claimed in 2 different ways:
1) Capital Costs
Capital costs are those associated with the purchase of the property.
These costs are not deductible against the rent (income) received, but added to the cost of the property so that when the property is sold it reduces your Capital Gains Tax.
2) ‘Running Costs’
Running costs are those that are incurred to maintain the property.
These can be claimed against the rental received.
Looks like really useful info, eh? Just click the link https://propertyupdate.com.au/tax-deductions-for-your-rental-property/ to find out more from the horse’s mouth! If you’d like to share perspectives or discuss how it relates to your business, call me on (0402) 024-625 or email me at [email protected].