AUSTRALIAN PROPERTY- FREQUENTLY ASKED QUESTIONS BY OVERSEAS BUYERS
Michael Bentley, Citylife International Realty
Are there any tax savings when buying property in Australia?
New Buildings in Australia qualify for significant depreciation tax savings. (Up to 60% of the purchase price may be given back to you in the form of a tax deduction)
Additionally properties bought for rental investment allow the owner to claim all expenses on the investment against future rental income, and overseas buyers of Australian property can also quarantines these tax deductions incurred in excess of the rental income to off-set future capital gains tax.
Interest income on any mortgage loan is allowed as a tax deduction.
We have a very good Australiantax report on this website for new migrants, returning expats and foreign investors.
"Michael Bentley has such a wealth of knowledge and wisdom concerning Australian property investment that one can never learn enough from him"
Michael Bentley is probably the most experienced expert on Australian Real Estate as it relates to overseas buyers.
He brings decades of high level knowledge to the table, and with billions of dollars of real estate deals behind him.
To help you navigate through whatever Australian real estate situation you face, you need to be confident that you can get the research, help, information and advice you NEED to be able to make informed decisions going forward.
"Mike provided boundless energy towards our purchase, took care of the finance, arranged lawyers, a building inspection, helped us structure it correctly for tax, and when a last minute hitch occurred with the seller deciding NOT to sell, kept calm, and more importantly kept US calm, and used his experience and knowledge to get the deal back for us"
Colin and Elaine, Hong Kong, 2020