The Age --- Page: 7 : 17 January 2007 Original article by Noel Whittaker
ABIX Summary
Although the notion of owning a holiday home is attractive, there are a range of downsides which should be considered. Tenancy arrangements can be difficult with beach homes, and the real estate agency's managing agent receives 12.5 per cent of gross rentals generally. This is an especially large proportion when there is frequently a week between tenants. In terms of financial arrangements for holiday homes, the income tax deductions are reasonably complicated and subject to various rules when personal property use is involved.
