What the new Your Future, Your Super means for you
Recent legislative reforms to the superannuation arena are set to change the retirement savings landscape for many Australians.
Capital works deductions for rental property
Rental property investors can claim capital works deductions for construction costs for a rental property, however there are limits imposed in relation to the dates such works were completed. The deductions are only available on residential properties built after 17 July 1985. Generally, up to 15 September 1987 the rate is 4% a year (over 25 years) and after then it is 2.5% (but over 40 years).
These are just some of the stories available for you to read in our August edition of Tax & Super which can be found here.
As always if you need further clarity or advice, do not hesitate to contact us.