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@jamie, could you please clarify ‘You can claim stamp duty in the first year of ownership – but the downside is that there’s land tax.’ and highlight the differences between NSW and Canberra.
‘Preferably in established areas – and if funds allow – close to the CBD (inner North and South).’ Can you suggest some suburbs in these areas that I should be looking into?
Hi Peter
No probs :-)
1) You can claim the cost of stamp duty against your income. You can do this during the financial year that you make your purchase. So if you purchased a property this financial year and the duty was $20k – then you’d claim that $20k as a deduction when you do your 16/17 tax return. However – all investment properties in the ACT are charged with “land tax” which can be a hefty amount. It’s an annual fee which can be paid quarterly.
2) Here’s a link to inner North properties. I personally like Downer (but I’m biased – I own property there). It’s close to Dickson (a large retail hub), is very close to the city (4km away) and the light rail will be stopping on Swinden Street. Prices have moved by a fair bit lately though.
For the south – here’s a link These suburbs can be quite expensive – but should continue to do well over time.
Cheers
Jamie
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This reply was modified 6 years, 12 months ago by
Jamie Moore.
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
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This reply was modified 6 years, 12 months ago by
