You can get profit in remodeling and renovating your property rather than just investing in buying one . You might have two options: you may either sell it at a slightly higher price or even rent it out . No matter the reason, you might get exposed to the potential risks of losing out on a sale and get flooded with maintenance costs, respectively. However, you will find profit in making renovations and improvements especially through depreciation.
For those who do not understand yet, it is possible to use depreciation against your taxable income and have the benefit of savings throughout the tax season. You can still claim the tax depreciation with the aid of Plant, Equipment, as well as Building Allowance. The stuff you use inside the property such as appliances, ovens and carpets, etc are covered by the Plant and Equipment and the construction cost of the building is covered by the Building Allowance.