Tax time tips for property investors

As we get closer to the end of the financial year, our thoughts turn to financial matters including the dreaded tax return.

For property investors, tax time can get complicated and often mistakes are made which could potentially cost thousands of dollars.

If you are a property investor doing tax returns for the first time or you are a seasoned investor, quantity surveyors Real Property Matters have compiled a very informative guide to help property investors prepare for tax time. Some of the areas covered include;

Depreciation on older properties
Putting to bed some common misconceptions on what depreciation is available for older properties.

Residential Property Valuation... DIY
Tips from the expert team at JDMA Property Valuations to guide you down the right DIY path.

What property investors CAN'T leave to their accountants
Why it is important to have an up to date depreciation schedule.

Before you see your accountant - What expenses can you claim?
Common expenses that a property investor may come across and whether each expense is claimable.

The Investment Property Tax Check List for 2014 from Real Property Matters, is available here.

Of course it goes without saying that you should always seek professional taxation advice before lodging your tax return.

For further information, call us on 9432 6070 or click on the contact us tab at the top of this page.

 

Posted in: Property investment

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