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Tax Deductions On Investment Properties
by paulwilsonaust on Dec 25, 2011
When you have several property investments the best idea is to keep all documentation for each property in a separate file so that at the end of the year all your paperwork or income and expenses are all neat and tidy ready for the accountant.
Do check to make sure that you are charging all your tax deductions as well. Question your accountant and make sure you are getting as much in tax allowances as possible.
Maintenance Expenditure
All maintenance and similar expenses are tax deductible as are overhead costs such as phones. Depending on what you have done throughout the year as regards looking for properties or using your vehicle for maintenance you may be able to charge some pro rata vehicle expenses. There are many other costs that you may be able to pro rata too such as: telephone, office space, computer expenses, so check with your accountant.
Capital Expenditure
Remember that capital expenditure is...Read More >>
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