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
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 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…
![Best time to renovate a home that will become an investment | Ask the Tax Expert [video]](https://cdn.propertyupdate.com.au/wp-content/uploads/2018/01/renovate-home-270x200.jpg)
When is the most tax-effective time to undertake a renovation? You’ll find out as you watch this week’s Ask the Tax Expert video as Ken Raiss answers Lynda’s question about when is the best time to renovate the new home that she’s buying using a First Home Owner’s Grant. You see…she plans to make her…
ASIC has released a warning – Info73, that in the event of the death, incapacity, or bankruptcy of a sole director company that: “During that period when there is no director, the company may be completely unable to operate. “With no one properly authorised to make management decisions or act for the company, it may…
Are you a director of a company or maybe the director of the trustee of a trust or your SMSF? As part of a suite of amendments introduced by the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020 (Cth) in June, all company directors will now be required to be identified by unique…
Property investors – the Australian Taxation Office (ATO) has put you on notice. They say you should beware of common tax traps that can delay refunds or lead to an audit costing you time and money. In 2019-20, over 1.8 million Australians owned rental properties and claimed $38 billion in deductions. Assistant Commissioner Tim Loh…
The end of the financial year can sneak up on you, can’t it? Before you know it, 30 June is approaching – or has passed – 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…
You thought we no longer had death duties but call it something else and we can see that the taxman 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 every…
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…
