Preparing For Property Tax Season (2023 Edition)

EP 027: In this week’s podcast episode, Grant and I are preparing for the 2023 property tax season!

We’re here to help you avoid unwanted mistakes and maximise your tax minimisations.

We’ll be discussing:

- How to find a good accountant

- Why you need to be across your books

- As well as land tax, structures and more!

P.S. How have you prepared for EOFY? You know I love property, so I’m super curious to hear how you are approaching tax. Let us know.

Episode Highlights:

00:00 Welcome to Property and Investing

02:44 Not thinking about property investments as a business

04:27 Strong numbers and data

05:12 Opportunities and benefits of knowing your numbers

06:34 Negative gearing isn't the only strategy to win the tax game

09:19 Tax loss harvesting

14:08 When to speak to your tax accountant

15:36 Forecasting your payable tax for the year

16:52 Going through what my plan and strategy is for the next year

19:05 Best question to ask your mortgage broker and accountant

19:49 Is it time to look for another accountant as a property investor?

22:22 Land tax and changes to structures

24:14 Importance of structures and setup from a tax perspective

31:00 Why it's more beneficial to have an accountant that's a property investor

31:27 Parking your cash in different offsets

33:42 Property investors need to be across their books and ready for tax season

If you enjoyed this episode, be sure to subscribe, tune in and share this podcast!

Resources:

○ Property and Investing website: https://propertyandinvesting.com/

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DISCLAIMER:

All information we share is NOT financial or investment advice and is purely intended for entertainment and educational purposes only. Always seek professional advice before acting on any financial decision.

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