Best tax strategy furnishing IP

Hi All,
about to fully furnish one of our IP's, having never done this before, we are after any advice investors may have?

 

Firstly, why?

Secondly, you would probably want to borrow to buy the furniture and do so at property loan rates. Any second hand items won't be able to be claimed for depreciation purposes.
Seek advice from a tax agent or lawyer.

 

Do your homework to make sure the numbers pay off.

The furniture often has a short life which makes the extra yield a bit less exciting.

And make sure you buy new stuff.

 

The property is in regional SA, where fully furnished properties let for considerably more ATM due to various large scale engineering projects. We were also able to negotiate with the seller to leave most larger items of furniture. But we still need to add some furnishings to complete. Thanks for the advice, we will look into borrowing, which is a strategy we hadn't considered.

 

You won't be able to depreciate these items.