All Topics / Help Needed! / when can I use as tax deduction

Viewing 3 posts - 1 through 3 (of 3 total)
  • Profile photo of GreenAppleGreenApple
    Member
    @greenapple
    Join Date: 2007
    Post Count: 2
    March 22, 2007 - 9:02 am

    Hi,

    quick question im sure many will know, im planing on buying block land and building a property for investment, im just wandering at what point can I negatively gear/use as tax deduction. Do I have to wait for house to be complete and being leased out, or can I start using the land by itself as deduction.

    thanks for any feedback,

    Leo

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781
    March 22, 2007 - 9:38 am

    If your intention is to build and then rent you can start claiming now.

    But you need to confirm this with your accountant – only a fool would act on accounting info from a stranger! [blush2][blush2]

    Simon Macks
    Residential and Commercial Finance Broker
    [email protected]
    0425 228 985

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

    Profile photo of GreenAppleGreenApple
    Member
    @greenapple
    Join Date: 2007
    Post Count: 2
    March 22, 2007 - 11:07 pm

    thanks Simon, I will but first I need to find a property accountant now that I reside in melbourne (I previously had one in ballarat). Can anyone point me in the direction of a good property accountant around the Altona/Werribee (vic) area.

    thanks,

    Leon

Viewing 3 posts - 1 through 3 (of 3 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.