3 Top Tips for Investors

By 7 July 2015Education
Negative about Negative Gearing?

3 Top Tips for Investors

There are a lot of costs associated with purchasing an investment property, it only makes sense to look to maximise the return on your investment. Here are 3 simple tax tips that might make a big difference:

Maximise depreciation

If you don’t have a property depreciation schedule drafted by a qualified quantity surveyor you could be missing out on valuable depreciation claims, and a bigger return! The tax man doesn’t accept depreciation schedules drafted by a real estate agent – you will need to hire a quantity surveyor but the depreciation benefits can be substantial. Did you know for instance that landlords can claim a portion of the depreciation of common property like lifts or swimming pools?

Organise records

Start gathering the necessary paperwork for your investment property now. Poor record keeping is like a red flag for the tax man, and investors who don’t maintain good records could find themselves the subject of unwanted tax office attention. Make a point of maintaining comprehensive records yourself.

Partner with an expert

Our tax laws are complex and instead of doing your own tax return it may be worth speaking with your accountant or a professional tax adviser, and getting their help when it comes time to lodge your tax return. It’s a great way to discover exactly what you can do to prepare for tax time to maximise your tax deductions and make the most of negative gearing. This expense may also be tax deductible next year!

We understand there is a lot to consider when applying for a home loan and the importance of shopping around. Fortunately we do the leg work for you, with access to over 30 specialist lenders offering more the 300 loan solutions. Meaning we can get you the most competitive loan solution that suits your needs both now and in the future.

With access to Australia’s specialist lenders both major banks and non-conforming, we’ve built close relationships and have a very reputable name in the industry. This give you the largest selection of home loan solutions available.

To find out how Hunter Galloway can help you call Nathan Vecchio on 0410 000 689.

For information on if LMI can be waived and how to choose the right loan.

 

Mortgage Broker

Author Mortgage Broker

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