As some people are aware on here we have built a 4 bed 2 bathroom investment property. It has always been the plan to landscape and complete the house and then sell for a small taxable profit. Unfortunately the housing market is at a low so we are thinking of renting it out for 12 months unfurnished until the market picks up again. I know this will half the amount of tax i eventually pay.
Everyone i speak to tells how great it is to have a rental property. Tax deductions and depreciation ect ect ... but i have just spoken to an accountant and he tells me it will only give me roughly $6k tax annual income ( which would just be our annual contribution back )??? Does this sound about right to all the property people on here ???