| If you are investing in property and know next to | | | | Although there are many examples of things that |
| nothing about taxes, it's time that you started learning. | | | | cannot be claimed as deductions, certain travel |
| Thousands of Australians miss out on money saving | | | | expenses and expenses that have to do with the |
| opportunities by not being aware of sound tax | | | | private usage of the property (even those that can be |
| strategies; you can avoid being one of them by | | | | claimed) are frequently overlooked because investors |
| following a few simple tips. | | | | have not sort the correct advice nor thought of getting |
| Keep Expense Receipts - | | | | a depreciation schedule. The average cost of getting a |
| Any accountant, mortgage broker or financial advisor | | | | depreciation schedule is about $500, but it can save |
| will tell you it's very important to keep all receipts for a | | | | you a lot of money down the road. From the moment |
| minimum of five years when dealing with investment | | | | you begin applying for a Brisbane Home Loan, you |
| properties or any other type of deduction you claim. | | | | should be thinking about getting a depreciation schedule |
| Doing so can help you in claiming deductions for assets | | | | to help you claim certain deductions on time. |
| that have declined in value and ensure you have all | | | | Know What Sorts Of Things Can't Be Claimed - |
| important and relevant information in the rare instance | | | | There are certain costs that cannot be claimed as |
| you may be audited. Some examples of these | | | | deductions. Knowing the difference between what is |
| depreciating assets include stoves, refrigerators, TV | | | | and isn't allowed can have a tremendous impact on |
| sets, hot water systems and various window hangings | | | | your success as an investor. In short, get a good tax |
| like curtains and blinds. By having receipts available | | | | adviser and depreciation schedule, keep your expense |
| demonstrating when these items were originally | | | | receipts for at least five years and understand what |
| purchased, you can more successfully claim them as | | | | kinds of costs cannot be claimed as deductions and |
| deductions. | | | | the best way to know for sure is to always double |
| Get A Depreciation Schedule - | | | | check with your tax adviser. |