Purchasing an investment property is a big decision and one you have undoubtedly made with a view of benefiting from this purchase at a later date.
Your decision to be a landlord for a rental property should not be a short-term investment. You can visit glenzoconsulting.com.au/services/taxationtax-preparation-services-australia/ to hire a tax advisor for your business.
There are costs associated with the purchase and sale of properties and to make it worthwhile, you need to hold on to your investment long enough to cover the costs and make a healthy gain when you eventually sell.
The idea behind the purchase of an investment property is that the property will be rented out which helps with the ability to finance the investment and during this time, the property will appreciate resulting in a profit when the time comes to sell.
This advice will ensure that you are aware of the various costs associated with rental properties, the best tax-saving tips, the property which will offer a good return, and the options for various loan structures.
There will be various tax considerations to be aware of such as what will be deductible and what will be treated as a capital expense and the various treatments of both.
Depreciation matters and Capital Gains/Losses will also be of importance; therefore, it is imperative to place your taxation matters in the hands of a good tax accountant experienced in investment properties.