Recent content by Squidman

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    Depreciation plus account queries

    You just worked that out now and you already own a property ?? Thanks, aware of all of these tax deductions just not the simple fact of whether the rent is actually taxed as income. We haven't settled yet and all of this will be sorted with my accountant beforehand. Just didn't want to push...
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    Depreciation plus account queries

    Thanks for good advice. We don't settle till August 1st - so next financial year. We are renovating first so are getting a scrapping report done and then a new depreciation schedule once renovated. Won't rush on the photos for Depreciators - I can do it on the day I get the keys before we start...
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    Depreciation plus account queries

    Hi, Reading another thread here got me thinking about my situation. I have paid Depreciators to prepare a scrapping report and depreciation schedule with their new service which saves a lot as it requires me to take photos and notes and email them in instead of them physically visiting...
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    LMI Tax query

    Currently looking for investment property. Needed to re-finance and setup Line Of Credit so that a deposit was available. Re-finance is processing now. Will be done in a few weeks time.
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    LMI Tax query

    I have just refinanced to open a line of credit which is to be exclusively used for property investment. We had to leverage to 90% to get a satisfactory amount, thus incurring LMI. I mistakenly believed the LMI would all be placed on the LOC (tax deductible over 5 years as an investment expense)...
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