13 Ways to Reduce Your Tax

Thought you might be interested in an article 13 Ways to Reduce Your Tax and thought I’d share a few points with you here. I’ve found some relevant information here so if I find more, I’ll be sure to pass it on.

SO HERE ARE 13 TAX TIPS TO CONSIDER IN THE LEAD-UP TO 30 JUNE.

PROPERTY INVESTORS

1. With prepayment of next year’s interest expenses, remember that the ATO will only allow this when the investment loan is on a fixed term and not if the loan is variable.  
2. Consider full payment of the year’s property expenses such as rates, insurances, land tax or other expenses.
3. While depreciation is a well-used strategy, many investors ignore using a scrapping schedule when a renovation has been done during the year. Many investors who co-own a property through a joint tenancy or tenants in common, work off one depreciation schedule as opposed to a split schedule. Both these strategies should improve cash flows.

If you want to keep reading with any of that content, by all means, click the link here to keep reading. Please feel free to contact me on (0400) 032-110 or email at [email protected] for any thoughts and perspectives.

Thanks,

Bill Mitchell