How to maximise your tax advantages and pay off your home sooner

How to maximise your tax advantages and pay off your home sooner
How to maximise your tax advantages and pay off your home sooner

Rental properties make money for investors through income and capital gains, both of which are taxable. Depending on your annual income from investments, wages and other sources, tax can eat up a sizable chunk of your returns.

One way to minimise your tax bill is to ensure you’re claiming all of the deductions you can on your investment property.

Expenses you incur due to owning a rental property can be offset set against the income the investment brings in.

If the deductions add up to more than the income, you can offset the tax loss against earnings from other sources. If the income is higher than the total value of deductions, you must pay tax on the excess.

For more tax planning tips for property investment in the new financial year, download our free eBook from Mortgage Down.

For more information, contact Mortgage Down by clicking here.

Tags: 
Residential Investment Property Tax

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