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Enjoy the tax time advantages of investing in property

Did you know that the Australian Taxation Office allows owners of income producing assets (like an investment property) to claim prescribed expenditure as a tax deduction?

Generally, this expenditure includes:

  • Outgoings such as council rates & water rates
  • Declining value of depreciating assets such as carpets, white goods, heating and air-conditioning systems, etc
  • Capital works deductions – commonly referred to as “building write-off”
  • Borrowing and interest expenses

Of course, the tax implications of investing in any asset will vary based on your unique circumstance. So before you make any decisions regarding property investment, it’s worth seeking some independent advice to find an approach that’s going to give you the most worthwhile benefits.