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Investment Properties

Investment Properties

Accounting and Taxation
Accounting & Taxation - Investment Properties
If you are thinking of purchasing an investment property, you need to consider the following:
  • Whose name should the property be in?
  • How will the income/(loss) from the rental property affect any government benefits/payments, tax rebates & levies?
  • What type of loan should you get, & whose name should it be in?
  • What date should you purchase an investment property?
  • Do you need to obtain a Quantity Surveyor’s report for depreciation & special building write off?
  • Was your rental property once your main residence? If so, what are the Capital Gains Tax consequences if you sell?
  • If your property is negatively geared, can you reduce your weekly PAYG tax now rather than waiting for the end of the financial year?
  • What can I claim? Can I claim agent fees, borrowing costs, council rates, insurance, interest, low cost assets, water, yard & pool maintenance?
  • Are you charging a non-commercial rate of rental to family or friends?
  • Are you dividing the income and expenses according to your ownership?
  • Can you claimed expenses prior to renting out the property?
  • Do you have any prepaid expenses?
  • Do you understand the difference between a deductible repair and a non-deductible capital expense?
  • Are you claiming for the costs of inspecting your property?

Red Diamond Accounting can help you understand the importance of each of these important questions.
  • Home
  • Services
    • Accounting & Taxation >
      • Do I Need A New Accountant?
      • Bookkeeping
      • Business Structures, ABN & GST
      • Investment Properties
    • Financial Planning >
      • Self-Managed Super Funds
      • Investments - Shares & Managed Funds
      • Salary Sacrificing
      • Income Protection Insurance
  • About Us
    • Our Team
    • Client Testimonials
    • Privacy Policy
  • Resources
    • Accounting & Taxation Resources
    • Blog
    • Client Area
    • Financial Planning Resources
  • Contact Us
  • Careers
    • Careers - Accountant
  • Client Login