There are many financial advantages to owning an Investment Property. Aside from the rental income and capital growth over time, the Tax man will allow you Tax Deductions on Investment Properties in several ways. Firstly, you can claim a Tax deduction on money spent on repairs and maintenance to the property. Secondly, if you have a Tax Depreciation Schedule prepared for the property, your Accountant will be able to claim deductions on aging fixtures and fittings. Thirdly, if you don’t claim any deductions on the property during the time that you own it, you pay NO Capital Gains Tax when you sell the property.
In addition, when you invest in a new property as opposed to an older, established property, then maximum tax savings are achieved, there are virtually zero maintenance costs, you enjoy a Builders Warranty, you are able to command a higher weekly rental amount and you will attract a better tenant for a longer period.
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