Comments for

Comment on Repairs, maintenance and capital improvements for a rental property by KYLE

KYLE — Thu, 19 Dec 2024 20:42:17 +0000

I have a property that has a Hot Tub. It needs repairs to work correctly. Would the repairs be tax deductible in Texas? I’m determining if I would like to fix it or remove it?

Comment on 3 of the most common BMT landlord Insurance claims by Sydney maddigan

Sydney maddigan — Fri, 13 Dec 2024 01:20:07 +0000

Please provide me with insurance information.
I have a rental property in Caloundra.
In a block of 74.
I am covered for structural.
My details should be in your system.
Regards.
Mr S H Maddigan

Comment on Ways to maximise depreciation tax deductions by daniel castro

daniel castro — Mon, 18 Nov 2024 06:05:38 +0000

i purchased an investment property last year. It is a 3 bedroom house built in 1963. My accountant told me that i am not entitled for a tax depreciation because of the age of the house. Is that correct?, and how can I avail this?

Comment on Who is responsible for repairs and maintenance of the premises? by Suzanne

Suzanne — Fri, 25 Oct 2024 19:10:56 +0000

Hello. Thankyou for the general rules. However there is one aspect I find these rules omit and that is in a body corp situation, where either other occupants (be it owner/occupiers or BC common area or other tenant/occupiers, who don’t do their maintenance and take any responsibility that causes effect to your tenants. Consequently how do these new rules enforce others to do the right thing &how do you make them? Thankyou.

Comment on 6 tax benefits of owning an investment property by Troy Walsh

Troy Walsh — Wed, 25 Sep 2024 03:33:21 +0000

On the website, it says if a property owner is entitled to a fifty per cent discount on CGT if they have held the property in their name for more than twelve months, from the date of signing the contract

Is this from the date I signed the contract to build a new home, I signed the contract in August 2022 and the house was handed over in April 2024. I have since rented it out as an investment.

Thanks

Troy

Comment on Choosing a Conveyancer or Solicitor for your investment property by shaiofshangleasing

shaiofshangleasing — Tue, 24 Sep 2024 01:51:53 +0000

What a thorough and insightful post on choosing a conveyancing solicitor! Your detailed tips provide valuable guidance for anyone navigating the often complex process of property transactions. I particularly appreciate your emphasis on communication and understanding the fees involved, as these are crucial elements that can significantly impact the experience. Thank you for sharing this helpful information—it’s sure to assist many people in making informed choices!

Comment on 5 ways to improve commercial property performance by Lee Matheson

Lee Matheson — Sat, 21 Sep 2024 08:38:38 +0000

I recently started a new business in 2023 and spent close to $80,000 of renovations. Hot water systems, shower toilet walls electrical work lighting paint structural beams and more

There’s much more aswell

Any help would be greatly appreciated

Lee

Comment on Negative gearing: the facts for property investors by Owen

Owen — Thu, 19 Sep 2024 09:30:37 +0000

Aged like fine milk 😉 I wonder if opinion has changed in light of the housing crisis?

Comment on Do you know how to depreciate rental property improvements correctly? by Rob

Rob — Sat, 14 Sep 2024 04:41:34 +0000

I had a few depreciable items that failed that I had to replace. All the items had a depreciable balance when I replaced them but my tax agent changed the balance to zero but didn’t claim the remaining depreciable balance. Is this correct? According to my understanding of scrapping I could have claimed the remaining deprciable balance of the item that failed as an expense?
I sold the property in December 2023 and will have a CGT liability when I put in my tax return. Can I amend the previous returns or can I just have these unclaimed scrapping amounts added to the cost base to reduce my CGT liability? I was reading somewhere on your website about CGT Event K7 although I built my property in 2012 so it was a new property and before the 2017 legislation.
Would be grateful for any comments on this scenario

Comment on Six depreciation questions to ask yourself this tax time by Gavin

Gavin — Thu, 22 Aug 2024 00:11:46 +0000

Hello, I have purchased a $1.1m townhouse that’s 38 years old – completely original, no renovations whatsoever! As i’m only going to be renting it one year, am I correct in saying the cost of a depreciation schedule would outweigh the tax benifit / savings if I”m only claiming for one year?

Thanks