Rebecca Mackie
Investment Properties – Pre & Post 30 June 2017
Anyone with investment property in Australia is probably feeling a little edgy with all the recent media attention on deductions, affordable housing, and negative gearing. We take a look at some of the key tax issues for investors pre and post 30 June:
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Have you made a capital gain this financial year?
If you find yourself with a capital gain this year because you sold an investment property or some shares, it is time to take stock of your other investments and determine if now might be the right time to realise a capital loss.
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Budget changes to depreciation for investment properties
The latest federal budget has seen changes to the way property investors can claim depreciation. This will potentially cost investors thousands, although it is yet to be legislated.
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PAYG Income Tax Withholding Variation
Do you own a negatively geared investment property? Your employer is required to withhold tax during the year to cover your estimated tax liability from your employment income. However, those who have a negatively geared property investment will have less taxable income than their employer estimated, due to their rental property loss offsetting their employment income. In these cases, the employee does their tax and gets a tax refund for the overpaid tax at the end of the year.
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Land Tax…the forgotten tax
When you buy your first (or even second) investment property, land tax is likely the last thing on your mind. Even less likely if you are buying a new family home and have decided to keep the old one and rent it out. With land tax rates skyrocketing in some states over recent years, this can be a nasty surprise.
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In whose name?
When you decide to purchase an investment property there are a couple of important things you need to do before heading off to the agent and signing the contract! It is important to have look at all your structure options with your accountant, including discussing whose name you want on the contract.
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5 Investment Property Ownership Structures – SMSF
There are 5 major ownership structures in which you can hold investment properties, and each one has its pro’s and con’s. The fifth and final article is on investment property held in SMSF’s, not a structure that is to be taken lightly, but one that can be very advantageous for the right investor.
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5 Investment Property Ownership Structures – Trusts
There are 5 major ownership structures in which you can hold investment properties, and each one has its pro’s and con’s. My fourth article delves into a slightly more complex ownership structure of a Trust – an excellent structure for tax and capital protection.
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