Rental Properties & Tax Returns

Living in Albury Wodonga has its perks, with some of the highest growth and investment opportunities for rental markets in Australia. A Rental Property can be a great investment  and it can also help your Tax Return and be very advantageous for people with high taxable incomes when it comes to holding a property that’s properly negatively geared.

Rental Property Tax Returns can be very complex and a difficult area to navigate for most people and it’s important to see a professional to ensure you get the right advice and understanding how it works. Visit us or discuss it at your next appointment to ensure that you are maximising you deductions and getting the most effective return each year.

It’s important to ensure that you understand how it works and what the effects will be on your Tax Return before you make the decision to purchase your next investment property. Sometimes there can be a few different aspects to a negatively geared property and factors to consider that can severely impact the Break Even point and opportunities for your future Taxable income and Tax Refund.

There are several important aspects to understand like:Rental Properties

  • which rental income is assessable for tax purposes.
  • what expenses are deductible or apportioned.
  • what expenses may not deductible or may require depreciation.
  • sometimes you can claim expenses in the year they occur.
  • others must be claimed over a number of years.
  • what records you need to keep and for how long.
  • and finally what you need to know when you sell your rental property.

A negatively geared property occurs when your Rental Costs exceed the Rental Income for the property or even multiple properties. With the right advice you can look to minimise your tax with a highly negatively geared property or even a property that is negatively geared that has a positive cash flow.

Many investors don’t realise they don’t have to wait all year to receive the benefits of a rental loss, by simply nominating to vary their withholding amount. With our help you can look to have more money in your pocket on a weekly basis, instead of waiting for a large Tax Refund after you have completed your Tax Return each year.

If you’re thinking about a negatively geared  Rental Property and how it may affect your Tax Return, be sure to make an appointment by contacting us now.