MCG QUANTITY SURVEYORS BLOG

Please, Prime Minister, I want some more

I went out for dinner last night. This would not normally be a news story, but in the current landscape, I could write an article just about that!!!!!

Fresh in the back of my mind was the article that I recently wrote for the Australian Financial Review, about the Federal Government’s announcement on Monday of the housing stimulus package.

For those of you that missed it, Prime Minister Scott Morrison confirmed the government was considering giving householders cash grants for home renovations.

I started to think about “What if this actually gets approved?”

I then started to think about my own Principal Place of Residence (PPOR) and my investment properties (IP). Would the grant be extended to investment properties as well? or just PPOR’s.

Then the cogs started to turn:

  1. What would I do to my own house?
  2. What would I do to my investment properties?

As I glanced back to the menu to order my dinner, it hit me………

……. What is everyone else going to do?

What if they had a menu to scroll through to see what they would be able to do to their own properties?

I raced home and did this up for you.

Imagine if you could order an ensuite, laundry and internal painting please. “That will be $49,038 please sir.”

But wait, what about the tax depreciation deductions I would get on the Investment Properties?

Of that $49,038 I would get a tax deduction of $8,319.50 in the first 5 years.

Order away my friends, the service is quick and the returns…….amazing.

Written by Marty Sadlier
Founding Director and Owner at MCG Quantity Surveyors