PANDORA replied to the topic Depreciation in the forum General Property 19 years, 9 months ago
Hi Dazzling,
I have been looking for positive cashflow properties for a while now and can’t find many that are cashflow positive. I look locally, interstate(mainly)and in the country.The only positive cashflow properties I find are ones in country towns with a very low population. The risk is then in finding tenants and the capital growth is…[Read more]
PANDORA replied to the topic Depreciation in the forum General Property 19 years, 10 months ago
Hi All,
I find the debate about whether or not to include Depreciation in my calculations in assessing positive cash flow properties very intriguing. I would love to not include it, but unfortunately it is not possible unless you invest your own money into the venture. Tonight I have been looking at three different proposals ranging in rent…[Read more]
PANDORA replied to the topic High return – Low Capital gain in the forum General Property 21 years ago
PANDORA replied to the topic A simple question? in the forum The Treasure Chest 21 years, 5 months ago
Leigh K,
I am no tax expert but I understand in general that if you are declaring your rental income and costs etc then there is no logical reason that these costs would also not be deductible. Warning: Is the ATO logical in their legislation and rulings?
What happens with CGT I don’t have any idea.
I would ask the ATO direct and get their…[Read more]
PANDORA replied to the topic A simple question? in the forum The Treasure Chest 21 years, 5 months ago
Hi Sooshie,
A good guide to look at is the ATO’s Rental Properties guide.
It implies that multiple trips are allowed (even interstate) however tbey are only 100% deductible if the sole purpose of the trip is to inspect the property. If it is not 100% then only part of the costs MAY be deductible.
My view is that if you make too many trips the…[Read more]