If you have an investment property, you’re able to claim tax deductions for certain expenses related to the property.
These expenses can’t be related to your personal use of the property. Rather, they must be related to an income-producing use in the property’s capacity as your investment.
We’ll help you claim the right deductions so you can maximise your tax benefit.
A few key areas to look out for when seeking to make claims include:
- interest on loans
- council rates
- repairs & maintenance
- depreciating assets (less than or equal to $300)
We can help you determine the right amounts to claim as deductions, so you’re making the most of the tax benefit available to you.
At C3MG Consulting, our experts can also prepare depreciation schedules which can be used to increase your return.
These schedules, which are tax deductible, detail potential depreciation deductions for both new and old properties.
In a single schedule, we can forecast capital works and depreciation deductions for the entire life of your investment property. That’s right—you only need one depreciation schedule for any given investment.
You may even be able to correct and adjust prior tax returns to claw back money that otherwise would have stayed down the drain.
It’s about maximising your tax benefit while ensuring your investment property and broader tax strategies align.
We also love collaborating with you to ensure your investment is appropriately positively or negatively geared depending on whether or not you’re making a profit.
So, start optimising the tax benefit from your important investment. Schedule an appointment with C3MG Consulting to discover how we can partner with you to take you to the next level.