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Michael (mid-forties) is a businessman living in South Africa.
He is concerned about the current socio-political situation and keen to secure the safety of his family.
The South African Rand is depreciating, making it harder to invest overseas, he views Australian investment as a sensible move to secure financial stability for his family.
Australia has an established and regulated investment property market, and provides a safe place for families.
Foreign investors must get permission from the Foreign Investment Review Board (FIRB) and are restricted to buying new properties. The team at New Property Specialists helped Michael find and purchase a 3-bedroom townhouse ‘off the plan’ for under $500,000.
New Property Specialists managed the process from start to finish, including the arrangement of specialist services: mortgage finance, accountancy, legal advice, building inspection and property management. We also arranged for a quantity surveyor to prepare a building allowance and depreciation schedule so that Michael can claim tax deductions for these costs over a period of forty years. This means that Michael will be able to write-off the entire cost of building his property and reduce the tax that he has to pay on his rental income.
Due to the ‘one-stop-shop’ service provided by New Property Specialists, Michael didn’t have to set foot in Australia, all communication was over phone or online. The process was handled from start to finish, providing Michael peace of mind that his financial plan for the future was in safe and capable hands.