Rental properties – travel expenses
13 Dec 2017
From 1 July 2017, travel expenses relating to a residential investment property are not deductible. A residential premise (property) is land or a building that is: occupied as a residence or for residential accommodation intended to be occupied, and is capable of being occupied, as a residence or for residential accommodation. Under the new legislation, you […]
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Rental properties – Borrowing expenses
05 Dec 2017
You can claim a deduction for borrowing expenses associated with purchasing your property, such as loan establishment fees, title search fees, and costs of preparing and filing mortgage documents. Please note that interest on the loan is not a borrowing expense and can be claimed immediately. If your total borrowing expenses are more than $100, […]
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Rental property depreciation
03 Dec 2017
What is depreciation? You can claim a deduction for the decline in value of certain items, known as depreciation, that you acquired as part of the purchase of your property or that you subsequently purchased for your property. A depreciating asset is an asset that has a limited effective life and can reasonably be expected […]
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Residential rental properties – travel expenses
29 Nov 2017
Recent legislation has changed the deductibility of travel expenses for residential rental properties. 2017 Income Tax Return Generally, you can claim a deduction for the cost of travel you incur to inspect or maintain rental properties or to collect rent. You can claim travel expenses for: preparing the property for new tenants (except for the […]
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