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Real estate depreciation on rental property can lower your taxable income, but determining it can be complex. Find out how it works and can save you money at tax time.
Ordinary income tax on an investment property is the net taxable income that’s left after you deduct operating expenses and depreciation from rent payments received.
In this year’s budget, Treasurer Scott Morrison announced surprise changes to investment property tax rules. In short, the government has clamped down on depreciation and travel allowances ...
If you want to build real wealth through property, you need to hold long enough to let compounding do its work. That means ...
However, if you bought an investment property after that date, and unless it was a new property, "you won’t be able to claim a deduction for depreciation on depreciable assets in the property.
Changes in depreciation rules makes it even harder to come out on top with just three or four years' ownership, so don't start your campaign with that strategy.
Depreciation allows a business to allocate the cost of a tangible asset over its useful life for accounting and tax purposes. Here are the different depreciation methods and how they work.
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