Folks we’re back to finish what we started…
In last week’s Bonusisode we featured Part One of Tax Planning Tips to Maximise your Returns and now, we’re back to give you the rest of the gold!
We’ll be unpacking…
- How to claim travel expenses related to work (especially if you’re a rental owner!)
- Is it possible to successfully act as your own accountant and claim travel expenses for properties? Hint: you need to prove this ONE thing to be eligible…
- The 2 key ways to keep a travel record (Plus Ben gives a life hack which makes recording 100% easier!)
- How to determine if you’re eligible for Building Depreciation + when should you get a Tax Depreciation Schedule?!
- What’s included when claiming plant and equipment depreciation!?
Julia also shares an extremely handy tax tip (Just see how excited it makes Ben!) for those who’ve missed out on creating a property depreciation schedule…
Spoiler: You may be able to go back and AMEND past tax returns to gain access to these benefits!
And lots more! So before you get start lodging any tax returns for 2022, listen to this first folks!
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
Free Stuff Mentioned…
- Check out the two links that Julia mentioned in the episode: How to amend past year tax returns! and Why does it matter whether you are an investor or a business?
- Tune in to Talking Property Tax with Julia, Episode 1: The Top 5 Tax Rules Every Property Investor Must Understand and Episode 2: Tax Planning Tips to Maximise your Returns (Part One)
- Check out BAN TACS, Julia’s own accounting practice which is also full of fantastic content around property investing and taxes!
- Are you searching for a property investment-savvy accountant? Book a FREE consultation with one of our qualified tax accountants here.
Here’s some of the gold we cover…
- 1:54 – The 2 ways to keep a travel record
- 4:40 – Which record is best for you??
- 5:10 – We’re setting THIS common myth straight…
- 6:25 – Deducting taxes from travel related to work – what is claimable?!
- 8:27 – Can Realtors claim travel expenses?
- 9:15 – Defining normal workplaces and being itinerate
- 12:15 – Essential rules for transporting others
- 13:09 – Recap! (Plus, how to make recording your logbook easier!)
- 14:50 – When is TOO LATE to start a logbook?
- 16:19 – Successful & unsuccessful examples of claiming travel expenses for Rental Properties!
- 19:40 – Should you get an accountant or DIY with a private ruling?
- 20:50 – The 3 Key Takeaways…
- 25:13 – Is your property eligible for Building Depreciation?
- 28:10 – Should you get a Tax Depreciation Schedule?!
- 30:20 – The who, what, when and why of SCRAPPING
- 32:44 – Plant and Equipment Depreciation: What’s included??
- 36:18 – When should you get a depreciation schedule?
- 39:25 – Missed out on a schedule? Listen to this for a HOT tip!
- 42:50 – So.much.free.stuff!!