We’ve only got a day left until the end of the tax year and if you would like to reduce your tax this year, next year and for many other years then you might need to make a decision.
I invest in residential property as I believe a 1-2 bed unit in a blue chip inner city suburb will be more expensive in 10 years time. Sure property is currently at a high value, but it’s always been that way, even when I bought my first 3 bedder for $200k in 1997. In hindsight though it was cheap and so were all my other purchases which have now created my $15m+ portfolio.
I don’t think anyone should invest for tax reasons as if the tax laws change you could end up with a lemon. However if you invest in good quality assets and then get a negative gearing benefit and/or if you can tax deduct an invoice for services rendered as a bonus, then you should take it with a smile on your face.
If you’ve been sitting on the fence thinking whether buying another property is right for you or whether using Your Empire’s Buyers Agents Service could by you a much better property at a much better price, then now could be a good time to make that decision.
If you sign up with us before 30 June, we will invoice you part of our buyers agency fee for the strategy part of our engagement. Depending on your personal circumstances and your personal accountant, that MAY be tax deductible against your income, which May reduce your tax payable in this current year.
We’ll then work with you, hand in hand to make sure:
- You know the difference between the different strategy options and what to buy and what to avoid
- You know what entity you should be buying the property in and where you should be getting your finance from
- You are surrounded buy a team of advisers that will support you in your journey. You can either continue to use your own or I can share who I work alongside that knows my ideas inside out
As the late Kerry Packer said in his interview to … Anyone that pays …..