Negative Gearing – Property Depreciation get it while you can!
In recent years there has been much debate about the pros and cons of negative gearing in the property industry and what impact removing it from the investment horizon would make.
We get a call every day from clients about this and clearly it is an issue that will affect the investment activity of some investors in the property market.
Whilst recent announcements from politicians on both sides of politics have highlighted that negative gearing is in the cross hairs, it remains to be seen what might actually happen going forward.
We can however be sure (at this stage) that there are no moves afoot to make any changes to claiming property tax depreciation deductions on your investment property, so you can still enjoy these substantial benefits that will significantly enhance your investment cash flow and after tax return going forward. Continue reading
Property Prodigy
At just 22, Simon Hicks bought his first investment property, and his portfolio has grown steadily ever since. Louise Hegarty talks to a young man with a big net worth and an even bigger plan.
“It was an opportunity that just really needed to be jumped on,” says Simon of his first investment property. “It was back in 2009 when the first home buyer’s grants were all in place, and a good property at a good price came up.” Buying off the plan meant Simon received the maximum grants, and maximum tax depreciation benefits for years to come. “There’s all this money if you know where to look,” he says, with a quiet wisdom well beyond his years.
No stranger to the market, Simon works in the property development industry and comes from a family of investors. “My father taught me a lot, he used to explain what he was doing with his portfolio, and I guess I’ve always been interested.” Simon also has the benefit of a degree in Property and Construction from the University of Melbourne, some of which was attained in Sweden. “I’m a bit of a nerd sometimes, I have a definite interest and even check out the ATO website.” Continue reading
