Changes for Investment Property Owners from 1st July 2017

Do you own an Investment Property? If the answer is YES, expect some big tax changes with new rules coming into force on 1st July 2017.

If you purchased a property that had installed fridges or dishwashers, you were entitled to claim tax deductions by depreciating them. Owners are now only entitled to claim things they have purchased themselves.

If you have an Interstate or Overseas Investment Property, you are no longer allowed to claim any trips to visit your property against tax.

So if you are planning on visiting your Overseas or Interstate Investment Property soon, we suggest a short trip to inspect it before 30th June 2017.

If you would like to schedule an appointment for Tax Advice regarding your Investment Property, please contact A Grade Tax on (02) 4731 1405.

 

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