There’s tax benefits waiting for property investors. Your New-build property could come with several
Will mortgage interest slow my repayments or investment strategy?
Good news! Some home buyers are eligible for a 20-year interest deduction once the property is complete. Mortgages on existing properties don’t have this interest deduction.
Don’t forget about ‘depreciation of chattels’.
Chattels are the personal property that’s not attached to the house (stoves, curtains, lights, etc…). Depreciation is when your chattel loses value over time. Each chattel has its own depreciation rate, between 3 to 15 years (approximately). This means that the tax rate on your property may decrease based on the age of your chattels.
Du Val are not Financial Advisors. We recommended you consult a tax professional or financial advisor to determine which tax benefits you may be eligible for when purchasing a new build property.
There’s a whole lot more tax benefits associated with investing in new builds. Call a Du Val Property Advisor today and find out what tax breaks a new build can bring you!
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Our experienced team can help guide you towards investment goals.
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