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Property of the Month

At go go, we love to help our clients in any way possible. And we’ve noticed lately that many clients are having trouble finding a property to purchase.

So we thought maybe we could help by showcasing various properties. Our aim is to have different properties from different regions, so if you are a Real Estate Agent and have a great property that you think our clients might be interested in, call 02 8239 8999 to discuss further.

go go Conveyancing presents Cassy Bailey-Hewitt with 32 Coventry Place, Nelson Bay

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27 May 2015

This fantastic 4 bedroom home, in Coventry Place, is arguably…

Attention All Boaties - 11/4 Cromarty Road, Soldiers Point

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18 February 2015

go go Conveyancing presents Tony Le Page with 11/4 Cromarty Road,…

Ocean Muse

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22 October 2014

Call Tony Le Page for further information about Ocean Muse on 0411…

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Go go conveyancing shared Advanced Finance Solutions's post.

3 weeks ago

We just came across a great post from Anita at Advanced Finance Solutions and thought we would share.Some interesting reading for the investors out there!

Depreciation and off-the-plan properties.
Investors who are looking to purchase a new property often look at buying off-the plan.
Buying off-the-plan essentially means you are entering into a contract to purchase a property prior to, or during the construction phase of a property or a development.
One big benefit of purchasing off-the-plan that investors often fail to consider is the property depreciation benefits available.
There are significant depreciation deductions available to the owner of a property purchased off-the-plan. It is important to note however that the property must be completed and be generating an income to claim depreciation deductions.
A completed property purchased off-the-plan will typically attract between $8,000 and $14,000 in depreciation deductions in the first full financial year, so it is fair to say that the new owner can make significant savings and increase their available cash flow by claiming depreciation for the property once it is income producing.
Newly built properties constructed off-the-plan will contain new fixtures and fittings*. Therefore the depreciable value of these items will be higher. The owners are also eligible to claim the maximum capital works deductions for the building structure, which means more deductions are available to claim over the life of the property (forty years).
When it comes to the fixtures and fittings in an off-the-plan property, investors should be aware that not all assets are created equal. In most cases, those assets with a higher starting cost will generate higher depreciation deductions.
For this reason, investors may want to consider the brand and price range of assets in an off-the-plan property.
Focusing on a kitchen in an off-the-plan property, the below table illustrates how the depreciation deductions available will vary depending on the model or price range.

As you can see in the below photo, those assets with a higher starting cost generate higher deductions than those with a lower base cost, both in the first full financial year and over the first five years combined.
As one example, a high range oven costing $5,150 will receive $858.51 in first year deductions and $3,080.74 in the first five years, while a low range oven purchased for $1,425 will get $237.55 in first year deductions and $1,183.42 over the first five years. This is a difference of $1,897.32 in the first five years.
If this is the difference an investor can see from just one asset, it’s understandable why they would want to give due thought to all the plant and equipment assets installed, as they add up to substantial depreciation differences.
Please note that the low-range microwave oven purchased for $220 would receive a 100 per cent write-off in the first year. ... See MoreSee Less

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Property of the Month

go go Conveyancing presents Cassy Bailey-Hewitt with 32 Coventry Place, Nelson Bay

Attention All Boaties - 11/4 Cromarty Road, Soldiers Point

Ocean Muse

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