Are generally purchased with the intention of obtaining capital growth as value of housing generally raise over period of years. These investments may not provide a nett income in the short term, the losses incurred are claimed against other income, this is refered to as negative gearing
In our view the sole purpose of such investments should not be just to minimise tax but to ensure long term benefits from steady increase in value and so that it becomes eventually a source of passive nett income. As the government brings the personal tax rate down, the tax losses are not recouped to the same extend as in previous years. The people who benefit from such arrangement solely for tax reasons will be those on high income and high marginal tax rate. So the selection of the property becomes vital depending on individual circumstances.
Property purchased and rented will, when they are sold, attract tax on the increased value of the property. The Capital Gains Tax is based on many factors since the purchase of the property. The Australian Taxation Office web site provides information and support for all types of investment questions such as depreciation, claimable expenses, record keeping etc. Click here to go to the ATO Website
To find out more about rental properties that may be relevant to your situation click here and ask your Accountant to provide you with details of your individual taxation requirements.
First Home Owners Grant and Duty Concession
Apply with us for your first home owners loan and goverment benefits, FHOG, and you will save time & money getting the best deal as we compare the best value outcome from the many lenders. As we don't charge you for our service contact us to make an appointment to get the facts. Click here to find out more about the First Home Owners Grant
Stamp Duty
Stamp duty must be paid on Transfer of Property. Each state in Australia has a different method of calculating it. Following links lead you to some of the state office revenue sites with stamp duty calculators :
- Victoria then click on calculators
- New South Wales and click on calculators
- Queensland and click on calculators
Overseas Investors
We can assist foreign investors in new residential property by obtaining bank loans here. In addition we can assist in securing Foreign Investment Review Board approval for the purchase. Overseas Students may also purchase property for use while they are studying. All foreign investors must provide evidence of income and nominate an agent for managing the property for them. To obtain more information, click hereThe Foreign Investment Review Board
Mortgage Broker providing low doc home loan, refinance home loan, new home loans, construction home loan, vacant land loan, first home owners grant, bridging finance for homes, car loans, commercial low doc loans, no doc commercial loans, business loan
