this is property 513 investment properties & tax: deductions, depreciation schedules, land tax, CGT, trusts + more
15 snips
Apr 4, 2023 AI Snips
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Episode notes
Accountant's Role
- Accountants can't create deductions, but they can guide you.
- Ask good questions and maintain thorough records for optimal tax outcomes.
Buyer's Agent Fees
- Buyer's agent fees are not immediately deductible.
- Add them to the property's cost base to reduce capital gains tax upon selling.
Depreciation Schedules
- Get a depreciation schedule; accountants don't calculate it.
- Order it when buying the property to maximize deductions early on.