It’s hard to believe we are nearly half way through 2019! The footy is in full swing, mornings and evenings are definitely chillier and we are digging out the winter woollies!
Now is the time to get prepared and ensure you are ready for tax time and getting the deductions that you are entitled to:
- If you have been holding off on any maintenance, repairs and general upkeep of your property – now is the perfect time to get it done to ensure the contractors have time to attend, invoice and payment be made before the end of financial year.
- Do you have a depreciation schedule for your property? This will depreciate capital items for their prescribed life time – just another way to get the most of your tax return. Contact your property manager to organise one if you haven’t already.
- Here is a link from the Australian Taxation Office all about residential rental properties but if numbers aren’t your thing – get a great accountant! They will ensure that are you not only claiming what you should be, but how to best do it – we are sure you’ll make their fee back plus more.
We would be happy to point you in the right direction if you need assistance at all this tax time.
We have reminded your tenant and we take this opportunity to remind you to that come 1st of June it is time to switch off your sprinklers and reticulation as required by the Water Corporation. For further information and to set up reminders click the link here.
Here’s to getting all your tax deductions!