The difference between repairs and improvements can be confusing for property invetsors. I mean… what is a repair? When does a repair become an improvement? And how do you know what’s tax deductible and what isn’t? Fortunately the Australian Tax Office sheds some light on these questions. What is a repair? A repair replaces a…
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
Do you know the difference between productive and unproductive debt? In my experience, too many people have too much unproductive debt, and not enough debt that actually works for them productively to increase their wealth over time. The debt equation I had a conversation with someone recently who was considering paying off their home loan…
Estate planning is different for everyone and especially in today’s modern environment of potentially blended families. So, with more people remarrying, it’s critical to prepare for the distribution of your wealth on your passing. While you are alive, the estate planning process allows you to manage and preserve your wealth for those you will one…
Superannuation is one of the most effective wealth creation tools in Australia today. The taxation benefits of voluntary contributions into your superannuation are well-known, as is the ability to access your super funds (via a self-managed super fund) to invest in property. Unfortunately, however, there are simple mistakes that people regularly make which means their…
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…
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…