25 May TA:21 It’s property tax time… let’s get ready?
Regardless of your political persuasion if you are a property investor you would have been pleased to see negative gearing and capital gains tax rules remain unchanged after the recent Federal Election.
With those issues off the table it is back to business as usual when it comes to property tax. One important property investment tax deduction that is occasionally overlooked is depreciation. This is where the notional decline in the value of buildings, plant and equipment can be claimed as a tax deduction. With June 30 fast approaching this is one thing to get onto ASAP if you haven’t already.
Mike Mortlock is the Managing Director of MCG Quality Surveyor and heads a team of highly qualified professions who can advise you on how much you are able to save off you tax bill by getting a depreciation schedule on your investment property.
To find out if you can benefit from a depreciation schedule contact Mike on Phone : 1300 795 170 Email : firstname.lastname@example.org
As you will hear in my discussion with Mike it is a complex field but one that can save you thousands.