Now that we’re in a new financial year, this is the ideal time to be speaking with your investment team about planning for maximizing your investment property this year.
Start by speaking with your property manager about what capital improvements or maintenance items your investment property may need this year. Your property manager can organize quotes for these works on your property, so you’re prepared for the financial investment.
Next, speak with your financial advisor (accountant, financial planner, etc) about these improvements and how best to plan for these expenses over the next 12 months, and how to maximise your deductions at the end of the financial year. Remember to discuss the implications of minor repairs and maintenance, and the option to claim depreciation on capital improvements.
- Please speak with your financial advisor before making any financial decisions