Investments

For these schedules it is our experience that some people are well informed and some people are not. We understand that there are standard categories but every person’s property is different.

If you don’t yet have a rental property we can look at the tax advantages specific to you.  Understanding that a rental property is more than just the immediate tax deduction is something we hope to impart to our clients.  It is about growing wealth in order to receive an income and in some cases subsequently making a capital gain.

Rental Properties

Some of the basic information required for rental properties will include the rent received, the amounts you paid in expenses such as council rates, insurances, strata, water, repairs and maintenance. We have a rental property checklist that you can get from us at any time by clicking on the link provided.  Rental-Property

Capital Gains Tax

Capital gains are an area where every situation is different so when we are doing this schedule we will work together to get the correct information.

Shares

When you hold shares and you sell them this will usually trigger a capital gains event. When those shares pay dividend this amount is included in taxable income, even when reinvested.

Foreign Assets

Foreign investment includes money held in foreign banks which earns foreign interest or overseas rental properties; these are often overlooked. If you are a resident for tax purposes then you are required to declare foreign amounts.  If you have paid tax on this income already then your foreign tax credits can be brought over.