Recent legislation changes mean that owning a rental or investment property is a lot more complicated than it used to be.
Your obligations as a landlord have changed and notable examples include revised notice periods, new inspection requirements and additional documentation around meth testing to name just a few. We can walk you through the current requirements and explain the implications it will have on your tax.
Investors need to be aware because (with few exceptions) you will now be subject to capital gains tax.
We can explain the new brightline test and review your specific circumstances, enabling you to plan when and how to sell your property for maximum return.With careful planning, rental and investment properties can provide good passive income and play an important part of your retirement plan or tax minimisation strategy.
If you’re considering a rental or investment property then come and see us before you purchase to discuss how that will affect your tax situation. If you already have property but are not sure that you are claiming all that you’re entitled to then we can help with that too.
Click here to contact us about Rental and Investment Properties.