All Topics / Help Needed! / What can I claim on my first year investment propety come TAX time?

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  • Profile photo of KyleePKyleeP
    Member
    @kyleep
    Join Date: 2010
    Post Count: 7
    March 14, 2010 - 7:39 pm

    Hi All

    I have a apartment/penthouse which I am renting out in South Sydney.  This will be my first time getting my tax done whilst owning a rental property.

    It is our main residence and we do not own another property. We (married couple) rent it out for 580 per week and our mortgage is $382k

    Is there a booklet or link or something of the sorts so I can find out what is the maximum I can claim on this property when I go see our accountant? 

    I always hear different stories and it seems you need to be very savvy when you go to the accountant to get the full tax benefits.

    thanks Kylee

    Profile photo of raresaturnraresaturn
    Member
    @raresaturn
    Join Date: 2010
    Post Count: 15
    March 15, 2010 - 1:54 am

    Don’t you have to live there to claim it as your main residence?

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    March 15, 2010 - 2:03 am

    Have a look at Bantics Accoutants website as they have some useful freebies

    http://www.bantacs.com.au/booklets/Rental_Properties_Booklet.pdf

    Richard Taylor | Australia's leading private lender

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

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