𝐇𝐚𝐯𝐞 𝐲𝐨𝐮 𝐛𝐨𝐮𝐠𝐡𝐭 𝐚𝐧 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐩𝐫𝐨𝐩𝐞𝐫𝐭𝐲?

Your accountant will want this information from you:

𝐂𝐨𝐧𝐭𝐫𝐚𝐜𝐭 𝐨𝐟 𝐒𝐚𝐥𝐞: The front page of the contract at least, but with PDF documents the whole contract would be great. A signed copy, showing the price, the owners and the date of the contract.

𝐒𝐨𝐥𝐢𝐜𝐢𝐭𝐨𝐫𝐬 𝐒𝐞𝐭𝐭𝐥𝐞𝐦𝐞𝐧𝐭 𝐒𝐭𝐚𝐭𝐞𝐦𝐞𝐧𝐭: When buying a property there are always adjustments for council & water rates paid and maybe strata as well. This document will list all the adjustments and show the completeness of the purchase.

𝐒𝐨𝐥𝐢𝐜𝐢𝐭𝐨𝐫𝐬 𝐈𝐧𝐯𝐨𝐢𝐜𝐞: Your solicitors fees become part of the capital cost of the property.

𝐒𝐭𝐚𝐦𝐩 𝐃𝐮𝐭𝐲: Usually your solicitor would advise you of this payment amount.

𝐏𝐫𝐞 𝐈𝐧𝐬𝐩𝐞𝐜𝐭𝐢𝐨𝐧 𝐅𝐞𝐞𝐬: These are fees paid for pest & building inspection, strata reports and inspection fees.

𝐁𝐮𝐲𝐞𝐫𝐬 𝐀𝐠𝐞𝐧𝐭𝐬 𝐅𝐞𝐞: If you used the services of a buyers advocate, their fees become part of the capital cost of the property. 

𝐋𝐨𝐚𝐧 𝐃𝐨𝐜𝐮𝐦𝐞𝐧𝐭𝐬: Information regarding the fees and charges in gaining finance for the property. These will become part of your borrowing costs.

𝐃𝐞𝐩𝐫𝐞𝐜𝐢𝐚𝐭𝐢𝐨𝐧 𝐑𝐞𝐩𝐨𝐫𝐭: This is a quantity surveyors report which will show you additional deductions you can claim against your rental income. We use the services of Duo Tax and Washington Brown.

Before you buy your investment property, you might want to have a chat with your accountant to discuss the best ownership structure for your situation.