Want to avoid the taxman rejecting your claim? Even worse, do you want to prevent the taxman from digging deeper and auditing your affairs? The Australian Taxation Office has a lot of information on their website to help property investors. Whether you use a tax agent or choose to lodge your tax return yourself, the…
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
Are you wondering how your changed circumstances related to COVID-19 may affect your tax situation? Well, you’re in good company. The Australian Taxation Office has provided a lot of information on their website to assist you. Here’s a list of the most frequently asked questions they are getting from individuals and employees as well as…
The Australian Taxation Office is aware that residential rental property owners may be concerned about how COVID-19, floods, or bushfires have reduced their income. This may be a result of tenants paying less or entering deferred payments plans, or travel restrictions which have affected demand for short-term rental properties. New legislation also affects the tax…
You thought we no longer had death duties but call it something else and we can see that the tax man can get a slice of your superannuation on your death if it goes to certain people. Everyone who has children knows that the Bank of Mum and Dad is an institution that runs 24/7…
It’s coming up to tax time and while many of us might shudder and put it off, we should relish the thought of a legitimate tax refund. Unfortunately, many people only think of tax when it is time to lodge their return. In fact, I recently heard that there is more than $1 billion of legitimate…
The end of the financial year can sneak up on you, can’t it? Before you know it, 30 June is approaching – or has past – and you aren’t as prepared as you wanted to be. Unlike the onset of spring, when our minds perhaps turn to more growth-oriented ideas, the wintry end of the…
Smart property investors use all the legal tax rules to minimize their cash flow leakage and maximise their deductions. The government encourages property investors to provide accommodation for those who need it by offering them a range of tax benefits. While most investors know about the typical tax deductions, such as interest on loans, repairs and management fees,…
The recent strawberry sabotage by a reportedly disgruntled employee – and potentially others who appear to have simply jumped on the bandwagon for some terrible reason – is a timely reminder of the importance of business insurance. With many businesses facing difficult economic times due to rising costs, increasing competition as well as changes to consumer…
With the end of financial year coming up soon, I thought I would provide some general tax strategies for property investors to consider: 1. Documentation: Keep summaries of all your rental income and expenses. This is much easier if you have your property manager looking after your property where they pay all expenses and collect all income….
Knowing what tax deductions you’re entitled to claim is key to maximising your return on investment – but that’s only half the battle… We have all heard the old saying about death and taxes being the only two certainties in life. This may not be the case when you take superannuation into account but that…