Property Accounting Questions
On the journey to accumulate wealth using property as a class of asset investors face a lot of issues and situations.
As property tax accountant, some of the questions we help people resolve include:
- Should I sell or hold? Which property should I sell?
Due to high interest rates I am forced to sell some of my investment property portfolio to be able to meet the cash flow pressures. Which property should I sell to minimise capital gain tax and maximise loan reduction? - How much capital gains tax will I pay?
How much capital gains tax will I pay? How much capital gains tax liability will I have if I sell this property and how much if I sell another property? - Which structure is best to protect property & other assets?
Just starting towards a wealth creation using property as a class of asset. Which is the most appropriate structure to hold the properties in? What are the advantages and disadvantages of each structure? I heard a commentator recommend that I should own investment properties in a trust. Should I set up a trust? How do I set up a trust? When should I set up a trust? Will I still be eligible for refund on personal tax if the property has negative gearing? How much capital gains tax liability will I have if I sell this property and how much if I sell another property? - Should I rent or live in the property?
Intending to purchase a property using the First Home Owners Grant. Should I live in it or rent out first? Life circumstances have changed. Finding it expensive to maintain the home, should i sell or rent it out? - Going Overseas – what are the tax implications?
Going overseas to live and work. Want to keep and rent out the existing home in Australia. What are the income tax and capital gains tax implications? - Minimising Tax
What tax deductions am I eligible for on my rental property? Is there a way to minimise land tax? Received an inheritance and used it to pay out our home loan. With the family growing we bought a new bigger house using the old house as security. We are now renting out the old house. Can we claim the interest as a deduction against the rental income? - Realising a capital Gain instead of a taxable profit
We have lived on a large block. Over the last 35 years the value of the property has increased greatly. The land is large enough to subdivide. A developer has approached us with deal. We could do with the extra money. Is there any tax on subdividing the land and selling? What should we look at? - Cash Flow
Is it better to have a positive or negatively geared property investment? - Subdivision , GST & property sales
We are purchasing a property and want to do a subdivision and development of townhouses. We want to sell some and keep others for rental returns. How can we minimise tax on the profit when we sell? How do we manage the GST on construction? - Transferring property – what are the tax implications? What about cash flow?
To better protect investment property I want to transfer it from my name to my wife or a trust? Will there be any tax implication as we will still control the property? - Renovation, GST
Renovating this bargain priced property we bought. What expenses can we claim as a deduction? Just completed major renovation on a property which is being put on the market shortly. Are there any GST implications? How can I manage that in the price? - Joint Ventures
Brothers/sisters pooled their funds to start in property investment. Different portions from each. Loans repaid by brother who had best salary income. On sale how do we reflect this additional contribution?
