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Thinking of turning your rental property into your principal place of residence (PPOR)? Understanding the tax implications is crucial to making informed decisions.Declaring Your Rental Property as Your Main ResidenceWhen transitioning a rental property into your main residence:You must declare it as...

Understanding depreciation is essential for managing your business's financial health and tax obligations. This guide simplifies the differences between book depreciation and tax depreciation to help you make informed decisions.What is Depreciation?Depreciation accounts for the reduction in value of...

Depreciation is a vital aspect of property investment, helping investors reduce taxable income and enhance cash flow. Among the various methods for claiming depreciation, the straight-line method is a commonly used approach. Here’s a detailed look at how it works and when it might be suitable for ...