Hi Everyone,
Can anyone please tell me if body corporate fees and rates are tax deductible for an investment property?
Also are property manager fees tax deductible?
Also on another note; does anyone recommend opening a trust to place investment properties under? Why or why not?
Any feedback is much appreciated. Thank you
They certainly are although from memory sinking fund is not
Tony Fleming | Triumphant Property Group
http://www.triumphantpropertygroup.com.au
Email MeNSW Buyer's Agent specialising in Western Sydney-Blue Mountains-Orange-Albury
all outgoings are tax deductable.
Trust- what type? There are advantages and disadvantages to the different ones. You need to research the difference and decide.
Some have no tax free threshold for stamp duty. CGT is different. etc etc.
Arkad wrote:Hi Everyone,Can anyone please tell me if body corporate fees and rates are tax deductible for an investment property?
Also are property manager fees tax deductible?
Yes.
Arkad wrote:Also on another note; does anyone recommend opening a trust to place investment properties under? Why or why not?
Why are you considering this? Way too many new investors jump into complex structures because they think it's the flavor of the month. There are a number of trusts – with various pros/cons. To gain an understanding of what would be suitable to your needs, you really need to consult the relevant professionals.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Thanks all for the information,appreciate it.
I think I definitely need to consult a professional regarding the trust and do a bit more research.
Cheers
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