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227 tax time Q&A with an accountant

Dev Raga Personal Finance

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Is There Anything We Should Do to Prepare for This?

The moment that they go and turn that into an income producing asset, therefore they put it out to the market, available to rent. They can then start claiming deductions in relation to having that property available for rent and producing income. So generally what you ou know, what you would do in that type of situation is, when you have an indication of a ga, i am moving out, i'm going to put it on the market. And there's the part too, to this question, is there anything we should do to prepare for this?

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