It’s been nearly eight years since the Reserve Bank of Australia (RBA) last raised the country’s official cash rate. Interest rates have been at historical lows for quite some time and as a homeowner, you may never have experienced an “official” rise in interest rates. So, how does the cash rate affect interest rates and ultimately, your home loan repayments?
Last year, important changes to tax deductions for property investors were announced. For some investors, the changes may have a significant impact on the annual deductions you can claim on your rental properties. Here’s what you need to know about the changes when doing your tax this year.
No matter where we turn – change seems to be a constant part of everyday life. In early May 2016, the government brought down a budget that heralded significant changes to superannuation. At the time of writing most of the superannuation announcements were due to take effect from 1 July 2017.
Don’t you just love getting a tax refund? Whilst nobody enjoys all the paperwork that goes with filing a tax return, getting it right can be rewarding particularly if you’re a property investor. Here are some tips to help you maximise your tax benefits this financial year if you are a property investor.
Are you thinking about investing in property this year? One of the reasons why investing in property helps you to build wealth is that it offers you various tax deductions. But many first time investors are unaware of all the tax deductions that may be available. One of the tax deductions you can claim on your investment property that is frequently overlooked, particularly by first time investors, is depreciation. What is a depreciation table and why do I need one?