The Tax Office is ramping up audits of property investors. This comes after the ATO checked a random sample of returns with rental deductions and found nine in 10 claims contained errors. The ATO audited 1500 taxpayers with rental claims and applied penalties totalling $1.3 million in 2017-18, but expects to carry out 4500 audits…
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
Labor proposed $200 Billion worth of new taxes. That’s a staggering amount – almost unfathomable With the many new taxes and policy changes that Labor will implement if they win the May 18th Federal Election, they will tax your income, your home, your superannuation and your savings. Many of the changes are difficult to understand…
The past century has probably not seen a sharper mind than Albert Einstein. And, if I know anything, it’s that smart men and women are often good role models to follow. Albert Einstein, for example, is credited to have called compounding as the most powerful force in the universe, in fact the eighth wonder of…
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. 1. Debt Your Self-Managed Superannuation Fund (SMSF) can borrow money to: a) Purchase…
Today it’s common for couples to purchase a property before they’ve walked down the aisle or even lived together. Naturally they assume they’ll be together forever, and don’t put a lot of research into the long term consequences of how their ownership should be structured. So to help better understand this, let’s take a look…
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,…
No one likes to talk about death but it is a fact of life. The problem is that by not talking about it, many people never get around to preparing for it either. A common saying is that there are only two certainties in life – death and taxes – yet we generally prepare for…
Capital Gains Tax (CGT) is one of those things that most investors know they will probably have to pay one day – and then promptly forget about it! The reality is that CGT can be difficult and confusing to understand, let alone calculate, so it’s important to have specialists on your side – and especially…
What is land tax? Who should pay it? And can I reduce this major property cost which seems to eat into my rental income disproportionally? These questions are often asked by serious property investors who already have or are in the process of building a significant property portfolio. As is the case for most taxes,…
Capital Gains Tax or CGT is never far from the headlines when there is a Federal Election looming. And this year is no different. So, it seems perfect timing to dive deeper into CGT so everyone has a better understanding of what it is and how you can minimise its impact on your wealth creation…
