+ Reply to Thread
Page 2 of 2 FirstFirst 12
Results 11 to 11 of 11
  1. #11
    Join Date
    May 2011
    Posts
    7,878
    Thanks
    3,397
    Thanked
    5,160
    Reviews
    8
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    Quote Originally Posted by lovesushi View Post
    Isabellabean, thanks a lot for sharing. Honestly it was the most decent house we could afford last year with DH's income. The neighbourhood is not bad, but not nice either iykwim. DH has just got a new job, better pay but nearly 2 hours transport from this house. so if we could do it all over again we would have chosen a different house.

    Hi babyla, thank you. What does it mean by "have it negatived gear for tax"? I thought rental income is taxable
    Yep, rental income is taxable. However, interest of your mortgage and any other expenses related to an investment property (insurance, rates etc) all reduce your taxable income. So, at tax time all these things should reduce your taxable income and give you a nice tax return. Basically, if it's costing you more to have the property than the income coming in from it, you can use these costs as a tax benefit. It also includes any improvements to the property whilst it's rented out eg: new water system, paint, curtains etc.. Also if your rental income from the property is less than the interest you pay on it -ie: you're running at a loss, then you can use this loss as well to reduce your taxable income.

  2. The Following 2 Users Say Thank You to babyla For This Useful Post:

    Hydrangea  (20-10-2012),lovesushi  (23-08-2012)


 

Similar Threads

  1. Bathroom renovation with an infant
    By lovesushi in forum House & Gardens
    Replies: 7
    Last Post: 17-07-2012, 16:01
  2. Bathroom & Kitchen Renovation
    By ThomasMum in forum House & Gardens
    Replies: 18
    Last Post: 13-12-2011, 03:34

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
free weekly newsletters | sign up now!
who are these people who write great posts? meet our hubbub authors!
Learn how you can contribute to the hubbub!

reviews
learn how you can become a reviewer!

competitions

forum - chatting now
sales & new stuffsee all
Melbourne Natural Medicine Clinic
Specialist Naturopathy, Chiropractic & Massage Melbourne Natural Medicine Clinic
Leading natural health practitioners in fertility, preconception, pregnancy, and children's health. We take an integrative approach all health professionals and offer diagnostic testing and natural treatment options suitable for the whole family.
featured supporter
Softmats
Softmats specialises in safe, non-toxic, and durable play mats. The international Premium Dwinguler™ Play Mats and Premium Bubba Mat™ range of floor spaces are the best quality in the world.
gotcha
X

Pregnant for the first-time?

Not sure where to start? We can help!

Our Insider Programs for pregnancy first-timers will lead you step-by-step through the 14 Pregnancy Must Dos!