10 solution for property investors to reduce income tax

10 SOLUTION'S FOR PROPERTY INVESTORS TO REDUCE INCOME TAX Claiming initial repairs as capital works. Claiming deductions for borrowing expenses and other blackhole expenditure that can be amortised over 5-years. Keeping good records of all expens- es for the property and ensuring all Pre-paying interest on their expenses are claimed as a tax 4 borrowings against the invest- deduction. ment property. Obtaining a depreciation report from a qualified Maximising depreciation by purchasing and instaling quantity surveyor for ready for use new depreciating assets in July. eligible properties. Applying for PAYG withholding variation 9 for negatively geared properties to improve cash flow for employment income. Holding investments for Delaying capital gains 6 at least 12-months or tax when selling proper- more to access as a ties near the end of the minimum, the 50% CCT financial year by enter- discount for eligible Ing into contracts from 1 entities when selling the July. property. Self-assess the effective life of depreci- 10 ating assets when you acquire them, this may give you an accelerated deduc- tion compared to the ATO Commission- ers prescribed depreciation rates,