A Property blog by Paul Bennion.
With the housing market looking to only strengthen over the next few years supported by the rise in infrastructure and fall in interest rates, home ware giants such as Harvey Norman are seeing an increase in sales.
What does this mean for my Investment Property?
This is good news for property investors who are buying goods for their rental properties, with increased sales there are likely to be competitive deals available.
Large companies can lower their prices to price match their competitors making it cheaper to furnish your investment property.
Many investment properties especially apartment and student rentals come fully furnished which can add to the amount of tax depreciation the investor can claim come tax time.
What items can I claim?
The following are some examples of what you can list in your Depreciation Schedule for tax purposes:
- Oven
- Microwave
- Dishwasher
- Refrigerator
- Clothes Dryer
- Washing Machine
- Free Standing Furniture
There are many more items you can list as part of your investment properties depreciable assets, refer to the Government guide to rental properties for more information.
You can also contact us for more information or alternatively you can order a report today.
