No one ever sets up a business with the intention to fail. Rather, entrepreneurial types are motivated by a multitude of factors such as personal drive and ambition or a desire to work for themselves or to create a particular product or service. Sometimes it’s as simple as wanting to be in charge of our…
Articles by Ken Raiss
Ken is director of Metropole Wealth Advisory and gives strategic expert advice to property investors, professionals and business owners. He is in a unique position to blend his skills of accounting, wealth advisory, property investing, financial planning and small business. View his articles
What happens when you dissolve a trust? Do you need to pay stamp duty and Capital gains Tax is you then transfer the trust’s assets to your personal name. That’s the question I was recently asked by a reader of Property Update – so here’s the Q&A Question: I bought a warehouse/office in the mixed-use…
Capital Gains Tax or CGT is one of those taxes no one really wants to pay. In fact questions around Capital Gains Tax are very common here on Property Update. So, let’s dive deeper into CGT so everyone has a better understanding of what it is and how you can minimise its impact on your…
There are a growing number of people in Australia wanting to create wealth by undertaking a small property development. Unfortunately, many people attempt it when they don’t have the knowledge or the know-how, and they end up financially worse off than they were before. Others, while clearly capable of managing the project, don’t set up…
More and more investors, and particularly Baby Boomers, are using their Self-Managed Super Fund (SMSF) as a vehicle to buy an investment property. So I’d like to share some of the most common mistakes I see people making so you can avoid them. Key points Debt Associated Party Loan Renovations Life Insurance Stamp Duty Purchasing…
Investing in property with your super has been extremely popular over the past few years, hasn’t it? And the reasons why are far more interesting than it just being a bit trendy! The main benefit is that super is an alternative avenue for property investing that has very little impact on personal finances or your future…
Are you a company director? Maybe a director of the corporate trustee of your family trust? Then you should know that the Government recently passed Bills to amend the Corporations Act 2001 to introduce a ‘Director Identification Number’ (DIN). What is a DIN for? This means that all company directors will be required to prove…
Asset protection seems to be a recurring topic with clients over the past few months. Although we are not lawyers the same issues seem to crop up. So let’s have a look at the top issue of asset protection that every property investor should consider: 1. Should I have a will? The answer is yes if…
If you use your own car for work purposes, you could be eligible to claim a tax deduction for car expenses, whether you own your car outright, are leasing it or paying it off. The Australian Taxation Office explains that you can claim a deduction for car expenses if you use your car to: Perform…
Trying to get your head around Capital Gains Tax (CGT) can sometimes be like attempting to learn a new language. You think you’re doing alright with it and then someone from that country starts talking to you thinking you’re a local and you end up quite confused and no doubt a little embarrassed. Of course,…