And the down side is .........?
We are running a business. We rent out properties. We repair and renovate properties. We make a bit of money. Enough for 3 families to live off comfortably.
I still don't see a down side.
I think there is some aspect of CGT and property as a business but really...
The other thing is to go out and buy some more properties.;)
If your incomes are very securer then maybe concentrate on properties which have the potential for higher capital gain. If your income are not secure then continue on the cashflow properties but just buy a couple of extra ones.
I...
Have you done depreciation schedules on all the properties.
The effectiveness of the depreciation reduces with the age of the property but the $50k reno should certainly be accounted for in depreciation. I suspect that your accountant has added it to the capital cost.
Look up Scot from...
