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…
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
Is the Queensland Government in overreach in attacking property investors? One would think so based on their latest attempt to increase property-related taxes. The Queensland Revenue Office has introduced legislation that from 30 June 2023, will calculate land tax, using the total value of your Australian land. This includes your taxable land in Queensland as…
The difference between repairs and improvements can be confusing for property investors. 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 part…
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,…
Why is it important to understand the difference between a repair and an improvement to your investment property? The property investor is often grappling with whether an expense is a repair or an improvement. This is critical because a repair can be written off immediately whereas an improvement must be written off over a longer…
Protecting your hard earned assets is increasingly becoming a common concern especially with the increasingly number of frivolous claims. For centuries people have used trusts to hold assets so as to protect them and to increase their flexibility. Protecting assets with a trust A trust is useful in this regard as the individual does not…
While it’s always advisable to have a will, not every will is created equally. Amateur wills are generally not worth the paper you’ve written them on, so you should always use a lawyer who specialises in the preparation of wills. Fundamentally, the transfer of assets held in your name (which are also called estate assets)…
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…
The strength of Australia’s economy is due to its small and medium businesses. In fact, there are more than two million of them in Australia, who collectively employ a huge number of people. So, clearly, their importance to the overall health of our national economy cannot be overstated. However, one of the issues that small…
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 its website to help property investors. Whether you use a tax agent or choose to lodge your tax return yourself, the…