END OF FINANCIAL YEAR TAX RETURN TIP FOR MORE MONEY
The difference a depreciation schedule can make to your cash flow?
Case study example: A new three-bedroom house @ $600,000
Ian purchased a new three-bedroom house for $600,000 just over one year ago. He rented his property and received a rental income of $545 per week, or $28,340 per annum. The expenses on the property for interest, rates, management fees and maintenance costs totaled $39,067. Towards the end of the first year of owning the property, Ian’s annual after-tax outlay amounted to $6,758 or $130 per week.