podcast

How to get more money back at tax time

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

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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 70: SPI special episode: buyer’s agent answers more listener questions
Episode 69: Are you a ‘lazy’ investor? Consider the benefits to working with a financial team
Episode 68: Special episode: audience discussion live from the Property Buyer Expo
Episode 67: Don’t get ‘caught up in the now’: an expert reveals his tips for success
Episode 66: Wealth distribution: how should you manage your money?
Episode 65: Real estate agents: what separates the good from the bad?
Episode 64: How this investor learned from a property blunder
Episode 63: Q&A session: the SPI team answers your questions
Episode 62: Property procrastination: the importance of finding help
Episode 61: The ins and outs of strata: what buyers should consider
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