Labor’s negative gearing policy was announced in February 2016. Whilst there has been much debate about the merits of negative gearing and whether negative gearing should be abolished, Labor’s decision to make substantial changes to negative gearing and capital gains tax discount has been controversial. But how does it impact Australian Expats? Craig Joslin, the founder of The Australian Expat Investor, explores the issue.
Archives for June 2016
Did you know that every year people just like you lose money, by not understanding their rental property depreciation entitlements? People short change themselves by not using these rental property tax deductions effectively. Well this article may help you avoid this, and assist you in getting the most out of your tax return. So first of all what is depreciation? Depreciation Depreciation is basically the decline in the value of an asset that you can claim as a tax deduction against your income. To give what could be a more familiar example, after you purchase a car it loses value over time due to various factors including wear and tear. This loss of value is called depreciation. Similarly, your rental property (being the building not the land) starts losing value from the time you purchase it, again due to various factors including wear and tear and the limited life of various fittings and appliances (eg. Hot water systems and… Read More