The tax advantages of carrying on a rental property business

By: Cordato Partners, Business Lawyers, Property Lawyers and Tourism Lawyers  11-Apr-2014
Keywords: Rental Property Business

Rental property investors are limited to claiming tax deductions directly related to their property, such as interest, repairs, rates and insurance. But if the rental property investor can upgrade their status to - carrying on a rental property business, then they can claim a wider range of tax deductions, such as travel to scout for new properties as well as visit existing properties, the cost of attending property related courses and seminars, magazine and newsletter subscriptions, property research applications, home office expenses, and motor vehicle expenses. To upgrade to a rental property business, all that is needed is to follow a few easy rules. For more information see my article - Are you carrying on a rental property business? Copy and paste this link -http://www.lexology.com/library/detail.aspx?g=e38dc7fc-b580-4606-9f8d-511120ee0be6

Keywords: Rental Property Business

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