The property I’m currently looking at is in good condition inside (so no initial works to get good rental return). Outside there is renovation potential for future resale. I won’t be offering overs for it.

Has the area improved?

Bump.

Does anyone have any recent experiences with Huntfield Heights or Hackham West? Currently looking at a cash flow positive property in Hackham West?

Cheers,

The settlement costs incurred reduce your capital gain (selling price less cost price) – these do not get added as rental expenses (ie, rates, interest, management costs, etc). I think that’s what you’re trying to determine. If not, speak to your accountant they should be able to answer your question.

I don’t understand what you’re asking then.

The ATO would most likely deem this to be capital expenditure, because you are replacing old with new, not repairing. You can still claim depreciation at 2.5% prime cost.

ps. your accountant would be able to confirm.

Cheers,

The costs listed will come off your selling price & reduce you capital gain (hopefully you made a capital gain).

The bank fees will be a tax deduction against the rent.

ps. your accountant will be able to confirm.

Cheers,

The costs listed will come off your selling price & reduce you capital gain (hopefully you made a capital gain).

The bank fees will be a tax deduction against the rent.

Cheers,

There is ceiling insulation. I have arranged for a professional to assess the current ceiling insulation. Will be interesting as to what he has to say.