Well, the End of the Financial Year is only two months away!
Now is the time to review your property investment to ensure that you have got all your financial documentation in order such as all rental statements and invoices for expenses.
It is also a wise time to be undertaking preventative repairs and maintenance to your property, not only to improve the amenity of the property but also to maximise the tax deductions that you can achieve.
Have you invested in a tax depreciation schedule which could save you thousands of dollars a year in tax deductions? Please call your property manager who can arrange this for you.
The last quarter of the financial year is also a good time to review the insurances on your property. Are they adequate and do they offer a full array of Landlord Protection Insurance features to protect you and your investment? Once again, your property manager is pleased to arrange a quote for you.
By getting your paperwork in order now and doing some reviews as outlined, you can save tax dollars for this financial year rather than leaving it to the last minute and then having to wait another year to get the benefit.