Are you burying cash in the backyard?

Deductions don’t stop at your doorstep We always laugh when we hear stories of people who stick their money in a pickle jar and bury it in their backyard rather than leave it with a bank. The sad fact is that thousands of Australian property investors are doing the same thing by leaving unclaimed tax deductions buried down in the bottom of their garden. Many property investors claim for the structure and assets within their investment property, but overlook the deductions just outside the front door. Property depreciation deductions can be claimed for structures and assets on the outside of an investment property just as much as those inside. To get the most out of your tax deductions, you should always make sure that your depreciation claim includes all outdoor assets on a property, otherwise you could find yourself missing out on thousands of dollars in additional cash flow.

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Posted on 29/10/2014 4:32:48 PM +11:00