BMT Tax Depreciation has shared its top three tips for property investors looking to optimise their property portfolios this year in light of changing market conditions.
BMT has worked with more than half a million Australian property investors to help them to uncover legitimate tax deductions for the wear, tear, and ageing of their investment properties.
The first suggestion for investors is to assess the debt situation in their property portfolios to ensure it is making the most of all the different mortgage products on the market and the current low interest rate climate.
BMT’s second tip for investors is to review whether they are correctly pricing their rental property to attract or hold good tenants.
The third tip is to consult depreciation and tax experts to ensure that all legitimate property tax deductions are being claimed in light of changes to depreciation rules that were passed through Parliament last year.
The new changes mean property investors can no longer claim deductions for plant and equipment assets such as air conditioning units, solar panels or carpet in second-hand residential properties where contracts were exchanged after 7:30pm on May 9, 2017. If you need advice about property investment, we are happy to help.