It doesn’t matter when you bought your rental property – even if it's just a couple of weeks out from the end of the financial year – it’s always worth getting a depreciation schedule done sooner rather than later.
Accountants are not qualified to estimate construction costs, which includes more than just materials & construction labour. For example, accountants are not qualified to estimate construction works & associated costs of previous works over the[...]
Too often accountants and other professionals still tell us that they don’t bother with depreciation for an investment property if the property is 20 years or older.
Just because an investment property is negatively geared, it does not mean it cannot produce a positive cash flow.
In NSW on July 1 there was a significant change to the Stamp Duty rules relating to the transfer or sale of “Business Assets”.
Our business is built on 2 key principles: