By Conrad Vass · Investment ·
Key takeaways
- Update your depreciation schedule before June 30
- Consider timing repairs for current-year deductions
- Review loan structures for max interest deductibility
As the end of the financial year approaches, property investors should review their portfolios and consider strategic moves to optimize tax outcomes.
Key EOFY Considerations
1. Depreciation Schedules
Ensure you have an updated depreciation schedule for your investment properties. This can provide significant tax deductions.
2. Maintenance and Repairs
Consider completing necessary repairs before EOFY to claim deductions in the current financial year.
3. Interest Deductions
Review your loan structure and ensure you're maximizing interest deductibility on investment properties.
4. Capital Gains Planning
If you're considering selling, timing can significantly impact your capital gains tax liability.
Professional Advice
Always consult with a qualified tax advisor for personalized advice. Contact Space Property Agency at (02) 9339 9599 for property-specific guidance.