What is Tax Depreciation Depreciation is the wear and tear of a building and the fixtures and fittings within it. The Australian Taxation Office (ATO) allows investment property owners to claim this depreciation as a deduction in their annual tax return, reducing their taxable income and hence paying less tax. You can download your special reduced fee application form here…
When buying a home, many borrowers come across the term LMI (Lender’s Mortgage Insurance). If you’re purchasing with less than a 20% deposit, chances are you’ll need to pay it. In this guide, we’ll explain what LMI is, how it works, how much LMI costs in Australia, and when it applies. We’ll also show you ways to reduce or avoid…
LVR stands for Loan to Value Ratio. It is the percentage of money that you intend to borrow compared to the overall value of the property. To work out the LVR, divide the amount you are borrowing into the value of the property e.g. It can be calculated using the simple formula: (Property Value – Deposit)/Property Value x 100% The…
