Residential property with vacant possession

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Question 1

You purchase residential property with vacant possession (no tenant) and paint the entire property before renting it out. Under Australian Taxation Legislation you can deduct these expenses by writing them off annually at a rate of 2.5% p.a. against the income from the property.

True

False

Question 2

When considering the evidence provided by Stapleton's indicative house prices for Australia between the 1880,s and 2010's, it is reasonable to conclude that returns from housing have trended upwards and almost never decrease in real terms even for short periods.

True

False

Reference no: EM133388301

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