Tax Deductions for Investors
Investors might be conducting activities such as trading shares, forex or CFDs. Some deductions that may be available to investors include:
Interest on money borrowed to fund investments that are primarily intended to produce income, as well as prepaid interest up to 12 months;
Loan costs apportioned over 5 years if over $100;
Mortgage discharge fees;
Depreciation of plant, equipment and building for real estate investors;
Rental protection insurance for real estate investors.
Investors may also be entitled to general tax deductions that are not work specific, such as investment deductions or car expense deductions.
Investors, due to the nature and complexity of their situation, are strongly advised to seek professional advice which is specific to their situation. Many investors can end up paying more tax than they need to if they do not arrange their affairs in the most tax effective way.
Tax Focus is a Registered Tax Agent and Certified Public Chartered Accountant. With over 20 years of combined tax experience our tax agents are ensuring that you get the biggest tax refund possible.
With offices located in Bondi Junction and Sydney CBD, we are conveniently positioned to provide tax accounting services to Sydney’s Eastern Suburbs, Sydney CBD and surrounding suburbs.
Contact us to see how we can help.