We have just built a new property which we have leased out to tenants, we are really new to all this and was wondering if anyone can give me some tips on what we can claim during the year so I know what I need to take to our tax agent
Thanks
Hi Sidluc,
I would suggest you get some professional advice, i.e. a savvy accountant, but a depreciation schedule via a quantity surveyor should be high on the list. Cheers.Regards
Steven
Mortgage BrokerMobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.auPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
The ATO website has a link to the rental property guide that details pretty well all issues associated with rental property. It is a useful starting point.
http://www.ato.gov.au/individuals/content.asp?doc=/content/57273.htm
As an aside retain all invoices and if in doubt keep them filed to one side and run the expense past your accountant.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958
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