Browse Forums General Discussion 1 Jun 23, 2021 6:45 am Hi, I am looking to buy an investment property in Sydney - budget around $1.2 mil Is it better to buy a home and land package Or is it better to buy an existing property What tax benefits do i get for buying a new home and land package. how much tax benefits i can claim from this thanks Re: Buy home and land package or an existing property 2Jun 23, 2021 6:55 am Most investors buy new as you can claim deductions more on the depreciation of the house. But this a strategy you should talk to a financial adviser about. Re: Buy home and land package or an existing property 3Jun 23, 2021 7:22 am thanks for your reply. is there a financial advisor who i can contact online.. like online chat.. i am looking for tax advise. what option would be better and how much would i be able to save in tax. Re: Buy home and land package or an existing property 4Jun 23, 2021 7:39 am The amount you save is a bit complicated so you are not likely to get advice online You need to know what your outgoing are eg interest, rates. Insurance and any maintenance against rent received. The real savings from a new build is driven from a deprecation schedule. This is basically a list of items that will wear out and need replacement over time eg the water system may have a life expectancy of 10 years so the new cost is deprecated over 10 years. BTW I personally don’t buy new houses for investment as I look more at the capital gain rather than tax savings but this is my investment strategy. Bear in mind you can only claim tax benefits on lost money. Re: Buy home and land package or an existing property 5Jun 23, 2021 10:36 am ok.. i understand calculating the savings can be complicated. who is the best person to for approach - a tax consultant, or a financial advisor or someone else? thanks Re: Buy home and land package or an existing property 7Jun 23, 2021 2:54 pm There's some other things you also need to consider - are you going for cap gains or yield or both? what's your strategy? Sydney is pretty overheated, so you'd be basically be reliant on on gap gains to make money. Taxwise whats the goal? with a budget of 1.2m i assume its to reduce your taxable income. If its not and that 1.2M is from inheritance or something then is the tax benefits really important to you? in short - see an accountant Dark matter scientist, can breathe underwater, mind reader and can freeze matter just by willing it. Trust me, its in my sig. Re: Buy home and land package or an existing property 8Jul 09, 2021 10:00 pm If you are interested in such details, I recommend townhomes in Myrtle Beach . In my opinion, it is the best accommodation option. I think you should have a look and read about the benefits in the area. wex is here If you are in Victoria you have a statutory right to your own building inspector regardless of builder's consent. No negotiations are required. However the builder will… 1 2943 4 11221 You might be able to apply to divert the sewer at your expense. In NSW you would contact a Water services co-ordinator and they would give you advice as to whether or not… 1 16150 |