Category «Rental Property – General»

Tax deductions on a rental property

Question Hi Julia,This question is a follow on from question #94 which you replied to on 22/1/09. The background to my question is the same, ie. –"My partner and I are currently living in our own home (with a mortgage). We bought the land on 23/8/2003 and moved into our newly constructed home in February …

Joint purchase of my fathers house

Question My father is 76 years old and his only asset is his house which is valued at $350,000. If I was to purchase 50% of his house for $175,000 and my father paid me rent of $175 per week would I be able to claim this as an investment property for tax purposes. Answer …

Deduction of costs

Question I am currently not working and manage a property on behalf of my husband who is fully employed ( and travels a lot). The property and loan are in his name due to him having the income. Can I tranfer any of my costs (travel to see property, finding tenants, etc) to him, as …

Business Structure

Question I have clients in NSW who recently bought a B&B business and were advised by a previous financial adviser to hold both the freehold property and the business in a DFT with both of the individuals named as trustees and beneficiaries. They are unable to recall the specific reasons they were advised to use …

Moving ownership of a property into a SMSF

Question I am 56 and my wife is 53 and jointly own a property which we are in the process of reconfiguring into 2 separate lots and intend to build a duplex in the back yard which will be on a separate title.Can we build the duplex in the name of a SMSF and still …

Land development Joint Venture

Question I have been negotiating with a local landowner (who has owned the land pre CGT) to assist in sub-division and development of his block.He wants to build and live on the bottom block, we want to build and live on the top block, and our SMSF wants to build a house on the middle …

Interest on investment

Question I have just completed building a granny flat on my property (Converted a Garage)I wish to Rent out the cottage for AUD 300/weekCost of build was AUD10 000 owner build and have slips. Value is well over 70k if a builder was called in.My initial loan on the property was 500k Plus I took …