Negative Gearing your Rental Property to Reduce Tax

While negative gearing is a method commonly applied to rental … Continued

Investment Property Deductions

You’re looking to buy an investment property and wondering how it will affect your tax situation?

Firstly, it’s important to note the difference between a residential or commercial property. If you purchase a residential investment property, there is no GST applicable. This also means you cannot claim any GST, however a commercial property will require you to charge GST and lodge BAS on a Quarterly basis. There will also likely be GST on the purchase and sale which you need to consider.