Hi all, I was wondering if anyone could give me some advice or thoughts on an investment property my partner and I built in Somerly (Clarkson) Perth WA? We built a 4×2 there 12 months ago. Never had a problem getting tenants but my concern is did we make a bad choice building a new home for 400K as an investment? Times are tough and tax time will be interesting for us, but our main concern is will it have been worth it in 5yrs time….or even 10? Our last investment was an older house that we made a terrific profit on, this time we thought we'd try our hand at building…. I'm worried we may have not made the best choice this time round…
You know about claiming building write off depreciation to increase your cash flow while reducing your cost base and increasing future capital gains tax.
Not sure on capital growth in the area you mentioned.I've got a depreciation statement prepared for tax time, but what do you mean by reducing your cost base and increasing future cap gains tax?
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