Jun 23, 2021 7:45 am
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
Re: Buy home and land package or an existing property3
Jun 23, 2021 8:22 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 property4
Jun 23, 2021 8:39 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.
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 property7
Jun 23, 2021 3:54 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
Re: Buy home and land package or an existing property8
Jul 09, 2021 11:00 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
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