Real Property Investor

 

Purchased a real property and plan to rent it out? Moved out from your existing property to turn it into an income generating asset? Or maybe selling your house?

The rental property you own can be a great investment, yet there are rules you need to remember. We can help you with:

 

Rental income and expenses

·         We are to ensure that all of the expenses have been claimed against the income at their correct and highest amounts

·         Determine and explain what deductions you can and cannot claim

·         Help to increase deductions through obtaining the depreciation schedule and utilisation of the resulting deductions

 

Renovation, improvements, repairs to the property, etc.

·         There are set rules as to the treatment of those. We can determine what you are entitled to as an immediate deduction and what can be claimed over a number of years

 

Capital gains tax and selling your property

·         Get to know all the rules governing the profit you have realised on the sale of the property

·         Be informed of the circumstances exempting you from CGT, either party or wholly on the basis of the “main residence exemption” rules

·         Calculate the correct cost base of the property to reduce the Capital Gain you may have to pay tax on