I have an investment property, what now?
Investments in rental properties can have a negative or positive effect on your taxable income. If, after deducting expenses from your gross rent received you have a profit, it will increase your taxable income and accordingly, the tax you pay for the year. If you have a loss, this will reduce your taxable income and reduce any tax payable for the year.
To make sure you are not missing out on any tax deductions, contact us on 03 5973 6888.