Investment Property & Negative Gearing
Bluestone Accounting – Investment Property & Negative Gearing
Buying an investment property is a big decision to make. Financially you need to consider whether you can afford to still make the repayments on your loan should your situation change suddenly. There is also the capital growth to consider as well as what suburbs you are thinking about investing in. Whether you are going to buy residential or commercial, what is the difference rate of return? All this before you even consider the tax implications. Here at Bluestone Accounting we can help you in making these decisions in terms of your current financial position.
Whether buying on your own, with your spouse, with a Self-Managed Super Fund or with a family member or friend you need to really know what it is costing you and what the tax benefits of negative gearing really mean in dollar terms to you.
There is also the eventual capital gain to consider should you sell the property. What would this cost you? These are just some of the questions we answer when clients consult us regarding a potential purchase. In general terms what you can claim are:
• General repairs and maintenance
• Insurance (Landlord & Building)
• Interest on Loan
• Council Rates
• Body Corporate Fees
• Land Rates
• Water Rates
• Real Estate Agent Fees
• Depreciation on Fixtures & Fittings
• Certain items/repairs are capital in nature and need to be depreciated rather than claiming in full
This is not an exhaustive list of claimable items & is only for illustrative purposes. We are happy to go through this list and other expenses in detail with you.
For more information please call us on (03) 9873 1000 or email us at firstname.lastname@example.org
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