Getting investment properties ready for the end of the year financial year
Several of our clients have sales sitting waiting for the 1st July to exchange so that the profits are moved into next financial year. Last minute transactions can be costly if you have not had the correct financial advice. Check in with your accountant to see if it is worth holding over to the next financial year for tax reasons before rushing the sale of a investment property this week.
The same goes for maintenance outgoings if you have items need attending to on your investment property this coming week is the time to get the work done so you can then claim back the costs as soon as you get your tax return done. If you do not already have one, investigate getting a Tax Depreciation Schedule as it can improve the bottom line on your investment property.