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We will determine if your property is negatively or positively geared and lodge your return accordingly.
In general, the income from an investment property is considered rental income and is subject to tax. Expenses related to the property, such as repairs and maintenance, insurance, and property management fees, can be deducted from the rental income to arrive at the net rental income, which is subject to tax.
The owner of the investment property is also responsible for keeping track of any capital expenditures, such as the cost of purchasing the property or making major renovations. These expenses can be claimed as capital works deductions or depreciated over time, depending on the nature of the expenditure.
CTK Accounting can help determine if your rental property is negatively or positively geared.
Negatively geared properties decrease taxable income which in turn decreases your tax liability, while positively geared properties do the exact opposit.
We ensure all interest and depreciation expenses along with other standard rental outgoings are captured to help minimise our clients tax bill.
William Koon
Franchise owner, Crust Pizza
Ed Bennet
Director, A1 Metal Roofing Pty Ltd.
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