Turning your residence into an investment property
Many Australians own their primary place of residence, but an increasing number are making the swap from living in their property to using it as an investment for their future.
There are a number of key factors that should be addressed to gain the maximum benefit from renting out your home. Investing in a tax depreciation schedule from a specialist Quantity Surveyor such as BMT Tax Depreciation will maximise cash returns on the property once it begins to generate income.
Your tax situation will be transformed
When an owner decides to turn their primary place of residence into an income producing property, their tax situation will change.
While it is true that newer properties may receive higher deductions, all investment properties will earn depreciation deductions for the property owner.
Capital gains implications
Consult with an expert
If you are thinking of making your home an investment property, visit the property investor’s page on the BMT Tax Depreciation website for more information. Alternatively, you can speak with the expert team at BMT on 1300 728 726 for obligation free advice.
Article provided by BMT Tax Depreciation.
Bradley Beer (B. Con. Mgt, AAIQS, MRICS, AVAA) is the Chief Executive Officer of BMT Tax Depreciation. Please contact 1300 728 726 or visit www.bmtqs.com.au for an Australia-wide service.