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Capital works/building allowance on your overseas rental property

Do you know that you can claim capital works/building allowance on your overseas rental properties under certain circumstances?

"Capital works" is an umbrella term covering a wide range of structures, and extensions, alterations and improvements to such structures. Capital works are divided into three broad categories: (a) buildings; (b) structural improvements; and (c) environment protection earthworks. This is the only non-cash item to maximise the negative gearing effect.

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