Tax time: Hundreds of {dollars} ready to be claimed by traders

Hundreds in tax claims are nonetheless obtainable to property traders who take steps to take action earlier than the tip of the month. Image: NCA NewsWire / John Gass


Newest figures present how a lot property traders might get again off the tax workplace from one kind of declare with none additional money outlay – and the determine is within the hundreds.

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Australian Taxation Workplace figures launched this week confirmed that depreciation was the second highest declare made by property traders, averaging $3,885 within the 2018/19 monetary 12 months, with the very best declare coming off mortgage curiosity (averaging $9,640). Physique company charges got here in third ($2,448), adopted by land tax ($1,931) and property agent charges ($1,281).

What property traders claimed 2018/19:

Mortgage curiosity (common $9,640)

Depreciation (common $3,885)

Physique company charges ($2,448)

Land tax ($1,931)

Property agent charges ($1,281)

(Supply: ATO/BMT)

Businessman scratching head at computer; confused investor generic.

Amount surveyors take the guesswork out of depreciation.


The sweetness with depreciation, in response to BMT Tax Depreciation CEO Bradley Beer, was that not additional cash must be paid out to say it.

“For FY 2018/19, the BMT common declare for capital works deduction and plant and gear got here to round $8,300. The next monetary 12 months confirmed an identical outcome,” he stated.

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“Not like different tax-deductible objects like mortgage curiosity and costs, an investor doesn’t must outlay any cash to say depreciation. And claiming it may put hundreds of {dollars} again in an investor’s pocket yearly”.

He steered property traders look to easy approach to scale back their tax burden earlier than June 30, together with prepaying mortgage curiosity, levies and insurance coverage and taking out a tax depreciation schedule – the price of which was additionally claimable.

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