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How to get more money back at tax time

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Tyron Hyde, Washington Brown, How to get more money back at tax time

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Some property investors dread tax time. To me it's an opportunity, and as a property investor you should ensure you're getting all the legal deductions you can. The number one way that you can do that is to claim the maximum depreciation on your property, and we can help you there. Also property investors should consider that if they've bought a property that's been renovated, you can claim the renovation costs even if you didn't do the work. The third thing I reckon property investors should consider that if they do need to help their cash flow, you can actually claim the depreciation expenses weekly rather than having to wait all the way until the end of the year and then claim them in one lump sum. So you just need to vary your taxation. But speak to your accountant about that.

Listen to other instalments of The Smart Property Investment Show:
Episode 53: Six properties in two years: how this investor is achieving his goals
Episode 52: Will property prices fall? When? And by how much? What investors need to know
Episode 51: SPECIAL EPISODE: SPI team reveals all the financial details of its portfolio
Episode 50: 8 properties by 25: Former housing commission kid reveals how he changed his life and created wealth
Episode 49: How to build a sophisticated multi-property portfolio
Episode 48: ‘From just $2,000 in my pocket to 6 properties’
Episode 47: The SPI Show answers more listener questions: Special episode
Episode 46: 4 properties by 24 – how to build a portfolio without sacrificing fun, travel or food
Episode 45: Special guest Mark Bouris on what really makes property prices rise and when to invest
Episode 44: ‘11 properties by 31, now I’m stuck: What’s next?’
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