01 Jul The EOFY always triggers a few things for apartment owners
Happy EOFY !!!
If you own an apartment in an entity such as a unit trust (incl SMSF) or company, your accountant may ask you to obtain an estimate of value around this time of year. Wood Property are very happy to provide this and you can email your request to us here.
Also if you don’t have a depreciation schedule in place we can organise a quantity surveyor to prepare one for you. This provides the notional amount your apartment depreciates each year which can be offset against its income for tax purposes.
The end of the financial year is also a good time to review your finance arrangements with your broker and check that the interest rate, terms and conditions of your loan facility is the best available in the market. If you don’t have a broker and would like a referral to our recommended finance broker please let us know. They will do a free review of your current loan and compare it to others available in the market.