Tax deductions you can claim on your investment property
Investment properties (or properties used for income-producing purposes) have unique tax deductions that you can use to ...
Changes to the law for properties with water meters have now come into effect, and investors must ensure they are following the new rules.
A recent Consumer Affairs Victoria update explained that either the landlord or owner will now be the person responsible for alerting water providers of a tenant moving in or leaving a property.
These rules only affect properties or sites with their own water meter, and include private rental properties, caravan park residents and tenants in movable dwellings. Under this definition, granny flats are also affected.
The Water Act 1989 will now detail that when a tenant begins living at a property, and then when they leave, the water provider must be informed by the landlord.
Properties without a separate meter have not yet undergone changes.
This law change was passed by Parliament on 29 March 2012 and has been in place since 1 July 2012.