Annual tax deductions can make all the difference for a healthy investment, but did you know investors can boost their cashflow even further?
Tax variation is a method for property investors to receive their tax refunds in advance, rather than having to wait until the end of the financial year.
It is credited back via PAYG each pay period or BAS for self-employed professionals.
As much as $200 per week could come back to you via this method - an enormous cashflow injection and one of the many tax advantages provided to residential property investors.
The best gift your business can give you is a decent tax return, which makes keeping track of your expenses a must.
Annual deductions include:
• Expenses related to rental property
• Interest payable
• Rates and insurances (including income protection)
• Agents commission and management fees
• Repairs and maintenance
• Capital works
• Miscellaneous (including advertising, bookkeeping, gardening services)
Click here to receive your free Residential Investment Annual Taxation Spreadsheet - a simple record-keeping tool to keep track of your expenses and income in one handy spreadsheet. Simply fill in the details and present to your accountant at tax time.