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
Superannuation is a smart and simple way to save for retirement – the more you put into your superannuation, the more you have for retirement. However, super is a long-term investment, starting from when you start your first job and only accessible once you reach retirement age. Your employer contributes under the Superannuation Guarantee scheme…
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…
With the end of the 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…
When someone is building their career, they usually have so many different things to think about that they forget some of the most important issues. What I mean is that they forget to think about the future as they’re so caught up in the present. Take, one of my clients, Thomas, for example. He has…
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 are more than $1 billion of…
As the end of the financial year (EOFY) approaches, Australians are being warned about a significant surge in tax scams. Fraudsters are increasingly taking advantage of this busy period to prey on unsuspecting individuals, exploiting the anxiety and urgency that many people associate with tax time. In fact, according to new research from Commonwealth Bank,…
Did you know that only 300,000 or so people own two investment properties in Australia? The number who own three or more falls dramatically from the figure. However, more and more people are taking charge of their financial futures by buying investment-grade real estate assets. Like so many things with wealth creation, though, there are…
If you’re a property investor, watch out – the taxman is after you. You and all other property investors. This means Australian property investors should be on high alert as the Australian Taxation Office (ATO) implements innovative strategies and forms new alliances to recuperate an estimated $9 billion revenue deficit. They will use advanced technologies…
What are the Capital Gains Tax implications when you move out of your home and rent it out and then sell it? I love receiving questions from our readers -Victor sent in this one: “I moved out of my principal place of residence, which I’ve been in for seven years, and then rented it out for three…
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,…
