Tuesday 26th June 2012
The Prime Minister Julia Gillard announced on Tuesday that Negative Gearing for property investors will not be removed.
The Government ruled out removing the tax break and the federal opposition is of like mind on this issue.
A property is negatively geared when the costs of owning it – interest on the loan, bank charges, maintenance, repairs and capital depreciation – exceed the rental income it produces. This highlights the benefit of having a quantity surveyor survey your rental property and prepare a Tax Depreciation Schedule for you.
The benefit of claiming this depreciation can add significantly to your allowable deductions on against the cost of having an investment property.
To find out more about how Abbcon can maximize your Property Tax Depreciation call (03) 9873-7144 or consult our website: http://www.abbcon.com.au