Are we too old to buy a few investment properties?

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المملكة العربية السعودية أخبار أخبار

المملكة العربية السعودية أحدث الأخبار,المملكة العربية السعودية عناوين

While it’s never too late to start investing, there are a few crucial considerations to keep in mind before you buy an investment property.

My husband is 56, and I am 50. We have a debt free home worth $650,000 and have around $300,000 each in super and some savings, I have a few shares. We are late starters to investing but wonder if it is too late in life to buy one or two investment properties.

Furthermore, you are at the mercy of interest rate rises, and you will find your costs may increase faster than rents as years go by. Then, if during your retirement you wish to take some money out of the property portfolio you need to sell the entire building and pay capital gains tax. You can’t sell the back steps.

I can’t seem to find a straight-forward answer to my query – are personal contributions to my super tax-deductible? My employer deducts the maximum amount from my pre-tax salary, and I was hoping to contribute more after-tax salary to my super whilst hopefully getting a tax deduction at the same time.

Holding costs cannot be used to increase a capital loss on a property. The regulations specifically list interest, insurance, rates, land tax, repairs and maintenance. The word maintenance has been tested in other areas to even include cleaning and maintaining the lawns and gardens. You cannot include the value of your own labour.

 

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المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين