Tax Archives - The Property Couch

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!!

Free Report: How to Make your Own Super Contributions

By The Property Couch May 10, 2022 in Case Study, Free Resources

It’s almost here folks.

After nearly a year of documenting bills and recording receipts, it’s finally time to whip out the calculators and sharpen those pencils…

Yep, that’s right – it’s the 2022 Tax Season!!

And boy are we excited to get into it!!

Well more specifically, we’re excited to get into all the ways that you can maximise your tax return!

That’s why in our April Bonusisode we invited our favourite Property Tax Guru, Julia Hartman, back to the show to share her knowledge!

But we realised while recording that there was just SO much gold to cover…

That there was only one solution:

To write it down in a report for y’all!!

Hence this report is ALL about making your own super contributions. We explain how to make them, its implications and how you can measure the $27,500 cap!

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 😊

p.s. Tune in to the full Bonusisode on Tax Planning Tips to Maximise your Returns (Part One) to hear Julia and our own Ben Kingsley unpacking this report. Start playing from 1 minute 33 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!

Free Report: Tax Deductions When Working From Home

By The Property Couch May 10, 2022 in Case Study, Free Resources

We all know that COVID has irrevocably changed how the world works…

From how we interact to travelling regulations, perhaps of the greatest areas affected is the work sphere.

Gone are the 5-day-in-office-rosters and cramped public transport. Instead, we’re now facing a hybrid of home and work office environments with a sea of new devices and platforms to connect us.

But how do these changes affect your 2022 tax return?

Well, this is exactly what we answer in this free report!!

We’re looking at what taxes you can claim when working from home, how to claim them, AND unpacking how the Australian Taxation Office (ATO) will try to deny your claim.

Basically, we’re looking at how you can maximise your returns this 2022 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 😊

p.s. In fact, we’re so passionate about maximising your returns this 2022 tax season that we featured a whole Bonusisode around it! Tune in as our favourite Property Tax Guru, Julia Hartman, and our very own Ben Kingsley unpack this report. Start listening from 10 minutes and 48 seconds!

p.p.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!

Free Report: Year-end considerations for Rental Property Owners

By The Property Couch May 10, 2022 in Case Study, Free Resources

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 😊

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)

By The Property Couch May 10, 2022 in Free Resources, Podcast

Podcast: Play in new window | Download

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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!

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 Stuff Mentioned…

Here’s some of the gold we cover…

Yep, that’s right – it’s the 2022 Tax Season!!

So what are you waiting for?

So what are you waiting for?

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

So what are you waiting for?

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

Here’s some of the gold we cover…

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Free Resources

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