Are you a Property Investor?
Specialist Property Tax Accounting & Property Tax Advice for aspiring and seasoned property investors in Melbourne.
Whether you're a seasoned investor or looking to increase your property portfolio for the first time with a new rental property, you can benefit from engaging a property tax accountant. Your dedicated property tax accounting will help you crunch the numbers and ensure your income tax is reported correctly when it comes to the end of the financial year. The team at Berwick Tax Accountants are all experienced property tax accountants and can help you manage the tax requirements for your investment properties. Contact our Berwick office today to learn more.
At Berwick Tax Accountants, our specialist property tax accountants are renowned for their reliable tax advice and property tax accounting services for property investors.
Property investors depend on Economos for property tax advice that can help them make the most of their investment property.
Are you looking for a Melbourne property tax accountant that specialises in an investment property? At Berwick Tax Accountants, our property tax specialists have the training and experience that can help both seasoned and first-time property investors make the most of their investment dollars.
Our team can help you find ways to reduce your taxes legally through depreciation expenses, improvement expenses, and more. We'll look at your property investment portfolio to create a custom strategy that will help you realise more cash flow on your current properties, pay fewer taxes, and find the money to fund more property purchases. We look out for you—structuring your portfolio to protect your assets best and produce more income.
Our services include all aspects of tax accounting and planning, pre-30 June reviews, tax cost minimisation strategies, capital gains tax record keeping, BAS and IAS requirements, and cloud bookkeeping services. We will make sure you comply with all statutory requirements at both state and federal levels – it is our job, not yours, to keep up with all the legislation.
Let Berwick Tax Accountants, we take care of your XERO and MYOB bookkeeping needs while you focus on growing your business! We offer bookkeeping services for small businesses in all the major suburbs in Melbourne. We will take care of your books while you focus on making more sales for your small business. Check out our accounting solutions and see which suits your needs.
We ensure that you are structured in the most tax-effective manner so that you can be confident that you are paying the least amount of tax possible. Legally minimising the amount of tax payable is strongly dependent on having the appropriate structure in place so that you can apply the funds towards growing a sustainable business.
Why do you need a property tax accountant?
Property tax accountants can help ensure that you're reporting your income from your property investments correctly. While the home you live in is generally exempt from tax, any investment properties may have an income tax, capital gains tax (CGT) and goods and services tax (GST). This is also the case if you build and renovate homes for profit, buy and sell land or use a property in running your business. If you rent out your home as a rental property, you will need to keep detailed records to ensure all your income and expenses are ready to declare on your tax returns.
The sale of capital gain assets, such as your investment property, requires financial planning, which is why it's valuable to employ a property tax accountant. The experienced team at Link can discuss potential strategies with you to help offset CGT and ensure that you're in the best possible financial position. Get in touch with our team today to learn more.
For investors at all stages of the property investment journey, whether starting out or well established, with the help of the team at Berwick Tax Accountants, you can:
- Structure your investment portfolio for better asset protection - Improve cash flows of your property portfolio by deducting various depreciation expenses. You can claim for depreciation on the property's furnishings, appliances and any systems that have been installed on the premises such as air conditioning.
- Property investment strategies that can legally reduce taxes - Claim all tax deductions that you are legally entitled to, including all depreciations and expenses related to improving, managing and holding your investment property. There is a wide range of expenses associated with property that can be claimed as a tax deduction from your overall income. This can include items such as insurance, maintenance and council rates.
- Know how to structure your debt to purchase investment properties safely.
- Develop a system and strategy on how to fund and structure subsequent property purchases.
- Negative Gearing - This is a property purchase strategy in which you use debt to minimise your income tax. It works like this: you take out a loan to buy a property. The rent you receive for the property, which is counted as income by the taxation department, ends up being less than you pay in interest on your loan. This difference is recorded as an annual loss and deducted from your yearly income, which reduces the amount of income tax you pay for that year. Though this strategy offers excellent tax benefits, you should seek professional advice before taking this course.
- Keep abreast of changing tax rules
Are you already operating or considering starting a business as a sole trader? Berwick Tax Accountants can help as we are a 'one-stop-shop' for accounting services and tax advice for sole traders and small businesses.
Providing accounting, tax and business advisory to professional services industries comes naturally to Berwick Tax Accountants. We have a large clientele of professional services clients who seek advice and knowledge specific to their industry.
Property Tax Services with Berwick Tax Accountants
Experienced Melbourne property investors recommend Berwick Tax Accountants for property tax services and advice. With a wealth of experience providing property tax advisory services for its clients over the years, Berwick Tax Accountants can give even new property investors the confidence to choose the investment properties that will produce income over the years for them and their families.
With the complex nature of property investing, property tax advisory services must take into consideration every detail to help their clients best leverage each investment dollar. Berwick Tax Accountants' property tax accountants do just that, looking for potential tax deductions, assisting clients in structuring their debt to provide funds for more investments, and calculating asset depreciation every year the client owns the property.
If you have an investment property or are thinking about buying an investment property, you need a property tax advisory firm that can help you realise the most return for your investment.
Building and maintaining a successful business in today’s rapidly changing environment is a balancing act. Sustaining year on year growth, while keeping up to date with commercial and legislative compliance and managing the challenges of daily business operations, places huge demands on business owners and directors.
Our specialist advisors work with you in a role to help you plan and implement contemporary business practices that will allow you to keep a close eye on the detail while not losing sight of the big picture.
Our Self Managed Super administration service can help you achieve the benefits of an SMSF by taking care of the administration and compliance of your SMSF, creating free time for you to focus on the critical job of managing the investments of your fund.
With a self-managed super fund, you are in charge of your super and where it is invested, plus you manage those investments yourself.
At Berwick Tax Accountants we provides comprehensive financial advice to our clients with an enthusiastic and proactive approach. Our strong team of experienced professionals will work with you towards identifying valuable solutions on how best to achieve your goals. Berwick Tax Accountants is a Melbourne based Chartered Accounting firm offering timely and cost-effective services to both individuals and businesses. We consist of a team of accountants and business consultants dedicated to providing the highest quality accounting, taxation, bookkeeping, and business advisory services.
Are you getting the right advice for Property Tax?
At Berwick Tax Accountants, we will help manage your property portfolio, assess properties to ensure they offer the best potential to maximise your investment income and structure your portfolio to protect your assets best.
Our property tax advice will include ways to claim all the tax deductions you are entitled to, whether they are improvement expenses, management expenses, or other expenses involved in maintaining the properties. Our strategies will boost your properties' cash flow, bringing you in more money year after year that you can invest in other properties—or your business. We'll also help you structure your assets to protect them in the most tax-effective ways best. Since property investors need to take estate planning into consideration in their property tax strategy, Berwick Tax Accountants will help protect and preserve your property investment for the next generation.
Your Berwick Tax Accountants property tax experts can also provide you with experienced advice on one of the fastest-growing property investment strategies, negative gearing.
A strategy in which you borrow to purchase an investment property, negative gearing, requires that the fees, interest, and other tax-deductible costs exceed the income the property brings in. This allows you to offset your losses against your income, giving you a tax benefit and a better return.
This strategy's long-term value depends on the property's rise in value over the years, producing a capital gain. Another area in which you need experienced advice is in asset depreciation. With recent changes in the federal budget, you can no longer claim depreciation on removable (plant and equipment) fixtures already installed on your investment property.
However, you can offset this change by paying less capital gains tax. The non-removable features, though, you can claim.
Our experienced team of property tax experts can help you sort through all these complexities to find a tax solution that works best for your situation. We also can help you with debt structure, a strategy in which you can structure your existing debts, using refinancing, consolidation, and other proven methods to finance additional property investments for your portfolio.
Since its inception, Berwick Tax Accountants has been at the forefront of tax and accounting, providing a broad range of services to local businesses in Melbourne. We offer Individual Tax Returns, Business Taxation and Accounting, Financial Planning, Self Managed Superannuation Funds, and Bookkeeping services.
We have extensive experience in servicing the manufacturing industry, including the provision of accounting, information technology, and audit services, and regular periodic management reporting. Supplemented with more detailed financial analysis, this lies at the heart of astute commercial decision making.
Why Choose Berwick Tax Accountants?
With the complexity of tax law and administration, you need a professional team that will support you when making difficult decisions affecting you, your family and the money you need to look after them.
Property Tax Specialists take a holistic approach, developing strategies, which encompass our clients' property, investment, income, business, family and lifestyle goals with an emphasis on protecting assets and planning for minimum legal tax.
We have built a wealth of experience and alliances to tackle any of your concerns. You may want to bounce some ideas, review a decision, estimate the tax implication of a particular transaction, find out if there are other issues you should be considering, or find out if there is a structure that may minimize your tax position.
We understand what farmers require to effectively manage the finances of their farming operations. We have been a leading provider of business and financial advice, taxation, and accounting services to Primary Producers and the rural sector for more than 30 years. Enquire today to find out how we can help you with your farm.
Our experience and relationship with franchise groups give us real-time insight into franchise systems and their performance. We provide franchises with business, taxation and accounting services. We can also act as consultants to the head franchisors in setting up cloud accounting & business and structures.
At Berwick Tax Accountants, our specialist property tax accountants in Melbourne are renowned for their property tax accounting services for property investors. Our property tax accounting and tax advice extend to the various estate planning factors including ownership and control of assets.