Hi
I am about to become a landlord rather unexpectedly (got a job offer elsewhere). I have been reading these forums for quite some time but am still a bit confused in some areas. The property management stuff I am Ok with but the tax stuff I am finding very confusing.
Is there anywhere that has a nice clear outline of what I need to do to ensure I have all the right financial stuff for tax purposes. I have a vague idea of depreciation schedules but am unsure of when to get this done, and also valuation for CGT purposes. Yep really not quite sure what I am talking about!!
Any help appreciated.
I am about to become a landlord rather unexpectedly (got a job offer elsewhere). I have been reading these forums for quite some time but am still a bit confused in some areas. The property management stuff I am Ok with but the tax stuff I am finding very confusing.
Is there anywhere that has a nice clear outline of what I need to do to ensure I have all the right financial stuff for tax purposes. I have a vague idea of depreciation schedules but am unsure of when to get this done, and also valuation for CGT purposes. Yep really not quite sure what I am talking about!!
Any help appreciated.