Property Tax Accounting
Do you own a home, investment property or are you a property developer? Or are you intending to get into the property market? Or are you about to convert your main residence into an investment property and vise versa?
If yes, do you want to know how:
1) You can maximise your tax deductions?
2) Minimise Capital Gains Tax or avoid it completely?
3) Whether a property is actually making you money?
4) Under what structure you should purchase it under?
5) Under whose name you should purchase it under?
6) To minimise risk?
Don’t leave all this when you finally sell the property or after purchasing it. By that time it will be too late to implement strategies to save you tax. By seeking advice early will save you in tens of thousands of dollars.
Property law and tax can be confusing to the average tax payer and a wrong move can cost you dearly.
For e.g. you don’t necessarily have to pay the full capital gains tax on your investment property or you can sell it without zero tax. Not all expenses are deductible, certain expenses are deductible over a number of years and yet others are not even considered an expense. A lot of clients who are not aware of all this, later finds out to their disappointment that their cashflow is drastically affected when it comes to tax time.
There are many factors you need to consider before selling a property. For e.g. a client sold a property which was sold for less than what they bought it for. They expected a capital loss. However, due to certain property tax laws which they weren’t aware of, a capital gains tax of $20,000 had to be included in their assessable income. This could have been avoided or at least planned for had they sought advice from an Accountant who is a tax specialist.
We use our expert knowledge in property tax to provide you advise which will prepare you for what is to come and how to mitigate any potential tax.
We also assist clients with:
1) Refinancing mortgage through our trusted mortgage brokers and bankers
2) Introducing our trusted property manager
3) Introducing our trusted mortgage brokers and bankers to help you purchase or sell property
4) Introducing our trusted rental agents to help you purchase or sell property
Our clients have access to the best professionals in the market at the best value!