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Rental Investment Properties

Rental Investment Properties – Additional $70 fee for each property

As an investor, you may have specific property accounting and tax needs, therefore should work closely with a property investment expert. We also work closely with our clients who aspire to grow through investing in property and/or shares.

If you have a rental investment property or are thinking of acquiring one, General Taxation Service can definitely assist you.

Thinking of buying?

If you are making a decision about whether an investment property is for you we can discuss and advise on all taxation aspects of this decision. For example we can advise on:

dot-point-1a0zud5-150x145Negative gearing, turning your interest expenses into a tax benefit

dot-point-1a0zud5-150x145How to structure the investment to maximise benefits in your family

dot-point-1a0zud5-150x145Reducing the amount of tax you pay weekly to help with mortgage repayments and other expenses.

 When you inform us about your circumstances, we are then able to put in place tax effective plan and tax structures to help you successfully protect and grow your wealth.

Already have an investment property?

If you have an existing investment property we can advise you on all taxation aspects of your investment. We will ensure all deductions you are entitled to will be claimed. These may include: Interest expenses,  Rates,  Body corporate fees,  Travel expenses,  Water charges,  Repairs and maintenance costs,  Capital allowances,  and Depreciation of fixtures and fittings.

We work closely with property advocates who have the ability to source suitable properties, mortgage brokers who will obtain the most competitive loans and solicitors who will assist with contracts, will and settlements.

Tax Checklist

Owning a rental property can provide significant tax benefits.  To ensure you’re receiving the full benefit in your tax return, General Taxation Services has prepared this checklist of information required when submitting your tax records relating to the property, as well as additional documents necessary if you have purchased or sold a rental property in the current year.

While our checklist is generally relevant to most rental property owners and has been developed to ensure claims are maximised, you should seek advice specific to your own circumstances to ensure that your taxation obligations are correctly met.

Tax Checklist2019 Rental Property Tax Checklist

Pay As You Go Withholding Variation (PAYGWV)

Many property investors rely on tax breaks to make money on their investment, however waiting until the end of the financial year can negatively impact cash flow.

PAYG Withholding Variation allows investors to receive a deduction each time they’re paid, effectively receiving their deductions on a drip-fed basis (i.e. weekly, fortnight or monthly) throughout the year.  Having the immediate additional cash flow can lessen the burden of rental expenses including loan repayments. Here at GTS, we understand that cash flow is critical, especially for our highly geared investors.

As employers are not allowed to reduce the rate of tax on employees’ pays without permission from the ATO, we apply for reduction by completing a PAYG Withholding Variation.

We complete the form online and correspond with the ATO to ensure prompt processing. Usually, within a matter of days the ATO will inform your employer’s payroll department of the new, reduced rate of tax to take out of your pay.

For those clients that currently have an investment property and do not prepare a Tax Variation but would like to find out more please contact us.

Author: Graham Robinson Google