Does a 5 year old property really make a difference compared to a brand new property?
One of the major benefits of purchasing an Investment Property is the tax savings you can receive on the Deprecation of the fixtures and fittings (e.g. blinds, carpets, dishwashers, etc.).
The first 1 – 5 years of a property is when you will receive the MOST return on the depreciation.
Each fixture and fitting depreciate over a certain period of time (ranging between 1 – 12 years). Therefore, in the first year you have EVERY item available to claim depreciation on and over the years they start to drop off, majority dropping off after 4 – 5 years, as they are smaller fixtures like ceiling fans and smoke alarms.
If you are wanting to compare properties that you have found in the market, we are more than happy to assist you and ensure you will be getting the best tax benefits possible.