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Free Report: Year-end considerations for Rental Property Owners

As the year draws to a close, we begin reflecting on the changes we’ve made over the past year…

Wait – we’re not talking about Christmas or the end of 2022!

We’re talking about the end of the financial year for property investors!!

This time is all about recording those new changes to your homes – be it repairs, renovations or improvements – and submitting them in your 2022 tax return!

This report covers what you can claim when doing either of these three (plus what isn’t tax-deductible) and what general deductions you can make.

Simply put, we’re trying to share some tax tips to maximise your return this tax season!! 

So what are you waiting for?

Let’s get started! Simply fill in the form below and we’ll email the PDF to your inbox 😊

 


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p.s. Tune in to the full Bonusisode on Tax Planning Tips to Maximise your Returns (Part One) to hear Property Tax Guru Julia Hartman and our own Ben Kingsley unpacking this report. Start playing from 32 minutes 56 seconds folks!

p.s.s On the hunt for a good Tax Accountant? Well, look no further! Book in a free and no-obligation initial consultation with one our Tax Experts here!

 

 

 

 

 

 

 

 

 

 

Bonusisode with Julia – Tax Planning Tips to Maximise your Returns (Part One)

As the old saying goes…

“By failing to prepare, you are preparing to fail”. 

And folks, we believe this holds true today which is why this Bonusisode is all about organising your taxes in the lead up to 30 June 2022!! (Part one)

This is the 2nd episode from our NEW Property Tax education series called Talking Property Tax with Julia Hartman where we give YOU hot tips and tricks to boost your returns and avoid tax traps. 

(Pssst – check out  Episode 1: The Top 5 Tax Rules Every Property Investor Must Understand here!!)

In today’s episode, we’re covering…

How to top up your own super…  

The BEST bookkeeping practices everyone should implement (Like what records should you keep and how long you should keep them for!!)  

AND we’re also giving you handy tips for claiming car and travel costs!!  

We’ll also be putting on our property investors’ hats to unpack the difference between Improving vs. Repairing in the eyes of ATO!

But that’s not all!!   

To help illustrate what we’re talking about in today’s episode, we’re also giving you 3 FREE reports on:  

  • How to make your own Superannuation Contributions 
  • Tax deductions when working from home 
  • Year-end considerations for Rental Property Owners 

Just fill out the forms below to download them now!  

  • Select the FREE reports you'd like to download!
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There is tons of gold in this Bonusisode so tune in now!

p.s. If you are looking for an experienced and qualified tax accountant, you can reach out to us here 👉 https://thepropertycouch.com.au/tax

p.p.s Make sure you stay tuned for Part 2 where we hone in on maximising your claims with travel, plant and equipment deductions!!

 

Here’s some of the gold we cover… 

  • 1:33 – How to make contributions to your Super  
  • 4:09 – What benefits do you get from topping up your Super??
  • 10:48 – Pitfalls of the home office claim 
  • 13:24 – What should you be recording when bookkeeping?  
  • 17:00 – Should you bother claiming your utility bills in the home office?  
  • 18:37 – Listen tothis if you’re self-employed!  
  • 19:56 – Let’s Recap!  
  • 20:35 – Must-knows with car and travel claims!!  
  • 26:53 – Property Taxes and Interest in Advance  
  • 27:50 – Why 2022 is a (relatively) LOW tax bracket!  
  • 32:56 – Repairs vs. Improvements  
  • 36:01 – Example 1: Repairing a roof  
  • 37:37 – Example 2: Carpet to Floorboards 
  • 41:18 – What is plant equipment?  
  • 43:13 – Understanding different depreciation schedules… 

 

Free Report: Tax Implications of Building a Duplex

Folks, we are a biased group of people.

There you go, we said it.

What do we mean by that?

Well, if you have been listening to the past 300+ episodes, you would know that we lean towards passive investment more than active investment. Hence why we say we are bias.

But that does not mean we do not share helpful and educational tips on active investments! In fact, because we know we are no qualified experts in active investments or tax for that matter, we always get the best in the industry to help unpack the nitty-gritty.

And this time it’s no different!

In Episode 386 | BEWARE Tax Traps! How to rebuild or repair after a natural disaster, we asked Julia to enlighten us on what are the tax considerations when it comes to Building a Duplex. As usual, being the detailed-oriented professional that she is, Julia has also helped us create this downloadable to help our community understand this topic a little bit more.

So what are you waiting for?

Let’s get started! Simply fill in the form below and we’ll email the PDF to your inbox 😊


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p.s. To help you understand it a little bit more, make sure to tune in to Episode 386 | BEWARE Tax Traps! How to rebuild or repair after a natural disaster – Chat with Julia Hartman. Fast forward to the 36 minute mark and you’ll get to play along at home. 

 

 

 

 

 

 

 

 

 

 

 

 

Free Report: Tax Traps to Avoid If Your Property Was Damaged in the Fires or Floods

There’s no doubt that we are seeing an increasing amount of natural disasters… from unstoppable flash floods to raging bush fires.

And it’s always devastating when your property is damaged by fires or floods, be it your home or investment.

Unfortunately, it’ll never be an easy fix either as it can range from significant repairs to a complete rebuild. Needless to say, the financial and emotional consequences are hard to bear. What’s worse, sometimes when you’re on your way to recovery and decide to rebuild your property, you get hit by a big fat tax bill 😨

So to help raise awareness of this tax debacle, Bryce, Ben and Julia unpacked all the key details in Episode 386 | BEWARE Tax Traps! How to rebuild or repair after a natural disaster. The best part is… Julia has also helped create a free report to help provide more clarity!

So what are you waiting for?

Let’s get started! Simply fill in the form below and we’ll email the PDF to your inbox 😊


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p.s. If you are affected emotionally, please do not hesitate to reach out for help. That’s the first step to recovery.

Here are some useful links that might help you take that step:

 

 

 

 

 

 

 

 

 

 

 

 

 

386 | BEWARE Tax Traps! How to rebuild or repair after a natural disaster – Chat with Julia Hartman

To celebrate the beginning of the festive (tax) season, we’re welcoming back a special guest…. 

It’s the only and only…Julia Hartman!!!!  

And this week she’s sharing with us how to repair or rebuild your house if it was damaged by a natural disaster (Like a fire or flood) … 

Without paying tax through your eyeballs!!!  

She’ll cover all bases from why it’s paramount that you move back into your house as soon as it’s been fixed (trust us, it’ll save you a heck of a lot of tax…listen in to find out what we mean!) 

To what you should do if you’ve been living overseas when your property was damaged!  

But we’re not just covering that of course, Julia’s got far too much knowledge just waiting to be shared! 

We’re also looking at all the recent changes to tax rates and how you can be prepared for them this tax season… 

Plus – we unpack all things Duplex like…  

What’s the optimal way to create a battle-axe duplex (and not lose any or all of your benefits to GST or CGT!!), 

Why you should keep records of everything from lawnmower fuel to maintenance costs,  

And basically, in the wise words of Bryce, how you can “Make apple pie with apples” folks!!  

But we’ll give you a little spoiler first…before embarking on EITHER of these renovations, it’s critical that you speak to a tax advisor who specialises in property. 

We can NOT stress this enough – there are so many fine details in the process and rather than giving yourself a headache, or worse, kicking yourself later for paying unnecessary tax, it’s best to seek advice first!! 

Now that we’ve got that triple highlighted, tune in to today’s episode folks! It can seriously save you a lot of stress later down the track. 

 

Free Stuff Mentioned 

 

Here’s some of the gold we cover… 

  • 1:52 – Don’t miss the next PICA webinar with Peter Koulizos!!  
  • 2:51 – Remember to stop and smell the roses folks…  
  • 6:35 – Welcome back Juliaaaa! (She’s a LEGEND!)  
  • 8:00 – What should you do if your home or investment property was damaged by fires or floods?  
  • 11:48 – Do I need a property depreciation expert? (PLUS, listen to this part for a silver lining)  
  • 14:47 – Why you shouldn’t accept cash payouts for rebuilding!  
  • 16:34 – The importance of intention and using the principal place of residence exemption   
  • 18:20 – What happens if I choose to sell? (And tax implications) 
  • 21:55 – Use a M___ Scheme to reduce your CGT 
  • 24:28 – Case study with Julia’s client 
  • 28:57 – Living overseas? Listen to this part!  
  • 33:16 – Let’s RECAP! (Want more details? Read the FREE report in our show notes)  
  • 36:00 – Building a Duplex: What to consider when demolishing your home!  
  • 39:38 – Why having the INTENTION to use it as a duplex has a lot of upsides  
  • 42:47 – The ideal battle-axe duplex situation is… 
  • 44:10 – Julia’s advice on Buying and Demolishing vs. Renting  
  • 53:30 – Changes to the Tax Rates: Why we think you should claim your deductions NEXT financial year!  
  • 55:54 – Ben’s prediction for the future… 
  • 58:50 – Keep it simple folks, share the CGT!  

And… 

 

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