A blog by Paul Bennion.
Investing in property is proven to be a low risk way of creating wealth over the term.
With interest rates on savings now at a very low levels and the stock market showing continued volatility, property is now the emerging as a popular investment choice for mum and dad investors.
This popularity is underlined by the success of television programmes such as ‘The Block’ and ‘Hot Property’.
However, in Australia many investors only seem to buy one investment property before giving up on their objective of buying several properties which can help fund their retirement.
This fact is underlined by government figures that only one in five Australian household own at least two properties.
Recent figures from the Australian Bureau of Statistics show that 21% or one in five households own a property other than their own home.
The reality is that most people dream of becoming a millionaire and only a small number of people have become millionaires through property investment.
These property millionaires tend to have five or more investment properties.
This is underlined by DEPPRO’s own figures which show that a rising number of our clients own more than five investment properties as they build a successful property portfolio to fund their retirement.
Generally, our clients have become property millionaires by adopting a professional approach to investing whether is it is carefully researching the property market or through ensuring they claim their full tax depreciation benefits associated with owning an investment property. They did no achieve their success through luck.
Using the latest online technology can assist property investors build successful property portfolios.
Knowing how much tax depreciation benefits a property will generate, for example, can assist property investors plan for future cash flow that can then be used to buy additional properties.
To help property investors gain an easy and fast understanding of the huge tax benefits they can obtain through depreciation, DEPPRO has recently launched an online calculator that provides an instant estimate of these potential tax savings.
Named Tax Estimate, this specialised software provides property owners with an immediate estimate of eligible tax depreciation amounts claimable on any residential investment property.
Located at www.taxestimate.com.au, this free online calculator provides property owners with a more than 92% accuracy of an ATO compliant tax depreciation report.
Tax Estimate has been developed using DEPPRO’s extensive database and is now proving highly popular with property owners wanting to get a quick estimate of their potential tax depreciation benefits before ordering a tax depreciation report through DEPPRO.