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Foreign Property Purchase

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reload | 14 Jul 2019, 02:28 PM Agree 0
Hi All

Could someone please provide general advice / contact details for accountant who can provide advise on the above.

Basically in short, looking to purchase a property overseas (development) with a couple of partners.

I would like to understand;

How the tax offsets / losses would impact Australian income?

How the foreign property investment works compared to the Australia property investment.

What are the benefits of property investments to reduce tax.

Basically we all work full time PAYG, and this would be more of a side investment / holiday home for us all, however would like to ultimately make a $$$ and reduce tax paid.

We basically would like to understand the risks / impact on our Australian income should the investment not work out ie potential losses.

Completely thinking worst case scenario here.

Look forward to hearing from you all.
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