Property Investors
Property Investors
At some point in life, you may feel that property investment is both an exciting and worrying experience, which comes with a lot of challenges. Using the services of Tax Consulting Partners will ensure that your property investment experience is stress-free and rewarding. The way you structure your investment properly will significantly affect its future profitability and viability.
Once the property is sourced for you, we aim to properly structure your investment from the early stages. We stand by your side throughout your property investment lifecycle, from buying your first property to growing your asset base until retirement. We’ll ensure that you receive the maximum benefits associated with your property investment. Many of you may be unaware of this opportunity and could miss out on this important factor.
What to Expect from Our Taxation Services
- When you buy your first property, we can help you with tax returns, tax analysis of property investment, and suggest the best structuring.
- As you grow your asset base, we can assist you with preparing tax deductions, tax depreciation reports, negative and positive gearing, and tax reduction strategies.
- During your retirement phase, we can help you access superannuation, prepare debt minimisation strategies, and manage your investment portfolio.
Tax Benefits of Having an Investment Property
It’s always recommended to seek help from professionals to gain tax benefits when you have an investment property. We will ensure you comply with ATO rules. With proper management of records, you can optimise your investment in property taxes. It’s always advisable to separate your home expenses from the rental property.
You may have encountered a situation in investment property, called negative gearing, where rental income is less than expenses.
Capital gains must be reported on your income tax return. The capital gain is included in your income, which increases the tax you owe. Getting advice from an advisor is crucial for understanding the tax amount you need to pay. That’s why it’s essential to set aside funds to cover this amount.
As an Australian resident, a foreign income tax return indicates that you are required to pay tax on global income. Income tax returns for foreign exchange must be submitted. Business income is added to foreign income. Therefore, for every foreign business activity, you must pay an Australian tax return. When you own any asset or invest outside Australia, a foreign income tax return must be reported, including interest from bank deposits, government pensions, rental income, income from super funds, and shares/dividends.
Looking to Buy an Investment Property?
We explain property investment and capital gains tax. We stay updated with the latest rules relating to business and investment opportunities. If you are interested in buying an investment property, contact us to consult with our professional accountants. We will be happy to:
- Explain the merits and demerits of buying an investment property
- Assess whether you are prepared to enter the property market
- Outline the tax implications of purchasing an investment property
- Discuss tax deductions and other important claims
- Suggest the best asset structure
- Provide expert advice from Tax Consulting Partners, specialists in property trends