The end of financial year is almost here again, so for all you property investors, it’s time to take stock to make the most of the tax deductions that are available to you.
If you don’t have a depreciation schedule, get one! Talk to our friends at BMT & Associates and they can organise it for you at a reduced price.
If you’ve got surplus cash and need more deductions, you can pay interest in advance and claim it this year.
Get together your receipts and statements from your property manager and make sure you’re organised for your tax return.
It’s also a really good time to run the numbers on your property. What’s the current value and how much equity do you have in the property? Is it time to do a rent review? Are you happy with your property manager? Do you have a plan for maintenance to keep it in good condition? Is your interest rate competitive or could you do better?
Talk to me about anything to do with finance, talk to your property manager about anything to do with the property. It’s always good to be proactive in managing your assets and planning for your future.
Once you’ve got this year out of the way, it’s time to start planning for the next financial year.
Maybe you could leverage that equity in your investment property to invest in another property. Maybe it’s time to upgrade your home. Maybe you can consolidate debt and take advantage of the lowest interest rates in Australian history.
Whatever your plans, we’d love to help with your finance.
Just call and we can arrange a time to meet.
