If you are considering buying an older investment property, you might be disappointed to learn that it won’t provide the tax break you have been hoping for.
Recent changes to depreciation rules are making older houses a less desirable investment option.
Property depreciation allows the owner of an income producing property to claim the wear and tear on a house as a tax deduction.
Due to the rule changes, owners of newer properties will receive higher depreciation deductions, making new builds in many cases a better investment option.
Only owners of new builds are able to claim the depreciation of all the fixtures and fittings. That means the carpet, the blinds, the stove can all be a tax write off.
It’s important that you’re getting current advice on property investment, so you’re not left with any surprises. Book a free consultation with Michael today and start getting all the advice you need.