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From: Peter Boyce
Hi all,
I have just purchased my first IP and have determined that it is cashflow negative (excluding the non-cash deductions), but cashflow positive when including the non-cash deductions.
My question regards the how and when the non-cash deductions are implemented into the 'big picture'.
My limited understanding of the situation is that I can get my accountant (as yet to lock this done) to submit paperwork to the ATO so that I will receive these monies in my regular pay packet through the reduction in my assessable income (hence tax).
When can this be carried out as my plan was to have this property providing income from day one so as to minimise any outlays?
Peter
Hi all,
I have just purchased my first IP and have determined that it is cashflow negative (excluding the non-cash deductions), but cashflow positive when including the non-cash deductions.
My question regards the how and when the non-cash deductions are implemented into the 'big picture'.
My limited understanding of the situation is that I can get my accountant (as yet to lock this done) to submit paperwork to the ATO so that I will receive these monies in my regular pay packet through the reduction in my assessable income (hence tax).
When can this be carried out as my plan was to have this property providing income from day one so as to minimise any outlays?
Peter
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