Property Investing in Canberra

nev_n_angie · 12-01-2007, 10:15 PM

:?:

Hi

We are hoping to be in Canberra in August/September 07. My husband has had Labour Agreement etc - We want to purchase property to rent as an investment. I am aware that there are tax incentives regarding this.

Does anyone have any information regarding this?? We have sold our home here and are currently in rented accom.

Angie

restfamily · 14-01-2007, 09:10 PM

Hi

Interested to here you are off to Canberra. We are thinking of going there, but there do not seem to be many of us.

Do you already have jobs?

nev_n_angie · 14-01-2007, 10:50 PM

Hi RestFamily

My Hubby is joining the ADF in Canberra - so he has a job! As for me....after settling kids into schools etc, I am hoping to try the property thing - we've done it here.

When are you off?

Fraser · 15-01-2007, 12:22 AM

Quote:

Originally Posted by nev_n_angie

:?:

Hi

We are hoping to be in Canberra in August/September 07. My husband has had Labour Agreement etc - We want to purchase property to rent as an investment. I am aware that there are tax incentives regarding this.

Does anyone have any information regarding this?? We have sold our home here and are currently in rented accom.

Angie

The Australian Tax Office has rulings on this...

http://www.ato.gov.au/individuals/co...tent/62426.htm

Basically, anything you spend on the house (including interest on the loan and all fees of any kind) you can claim back as a tax deduction. They call it "Negative Gearing".