Negative cash flow
You have a negative cash flow property when the expense of holding the property is more than the income made from the property.
What is depreciation?
Depreciation is the estimated decrease in an asset’s value over time. It’s an expense that you can add to your total expenses of holding the property, increasing your total tax deduction, therefore increasing your tax refund.
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How to claim depreciation
A qualified quantity surveyor should be able to inspect your home and prepare a report for your accountant.
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This advice has been prepared without taking into account your particular objectives, financial situations or needs, so you should consider whether it is appropriate for you before acting on it. For that reason, before acting on the advice, you should consider the appropriateness of the advice having regard to your own objectives, financial situation and needs. Where the advice relates to the acquisition, or possible acquisition, of a particular financial product, you should consider the Product Disclosure Statement before making any decision regarding the product. Contact us 13 11 55 for a copy.
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