Right. I'm home all day today and have been sitting at my laptop since 7am reading and searching the net.
i have 2 questions that i cant seem to get a straight answer for
1. if we buy a land and house package, do we only pay stamp duty on the land??
2. re: depreciation, I know this is split out over the years, allowing you to claim only a certain amount a year on the asset value. Does this apply only to new homes? If a property is say 6 years old can you still claim depreciation?
sorry if these have already been answered but i cannot seem to find direct reference to them. (mind you the source of this information, a supposed investment advisor, is not very reliable i think and has just confused me!)
Also, I’ve read many stories of people buying "cheaper" properties, renovating and then renting out. Is there anyone who has gone with the strategy of buying new houses?
thanks!
i have 2 questions that i cant seem to get a straight answer for
1. if we buy a land and house package, do we only pay stamp duty on the land??
2. re: depreciation, I know this is split out over the years, allowing you to claim only a certain amount a year on the asset value. Does this apply only to new homes? If a property is say 6 years old can you still claim depreciation?
sorry if these have already been answered but i cannot seem to find direct reference to them. (mind you the source of this information, a supposed investment advisor, is not very reliable i think and has just confused me!)
Also, I’ve read many stories of people buying "cheaper" properties, renovating and then renting out. Is there anyone who has gone with the strategy of buying new houses?
thanks!