Our Property Manager, Jana Moore, shares her tips on what to consider as the End of Financial Year approaches.
We are currently already in June which means End of Financial Year is just around the corner. If you're familiar with financial blogs and books you'd be aware that there is a lot of talk around financial wellness, and what a lot of the experts are recommending is for you to review how your investment property is performing to ensure it’s on track with your financial goals.
The biggest thing to focus on in my opinion is your rental return, as this is something that has significantly increased over the last number of months due to COVID and the housing shortage, so there is a great potential at the moment for your property manager to review this and give you suggestions as to how much you could be charging for your property.
We also pride ourselves here at Property Boutique on open and honest communication and that means we give our owners practical tips on small alterations or maintenance that could help increase their rental potential. Obviously, we like to have a very regular communication with them to ensure they’re always up to speed with everything coming out.
Realestate.com shared 7 tax tips for real estate investors at EOFY:
1) Prepay your interest
2) Claim depreciation
3) Claim your borrowing expenses
4) Lodge a PAYG withholding variation
5) Time and Capital Gains Tax events right
6) Hold onto your receipts
7) Get good advice
For more on this article, you can find it here.
If you'd like to know whether your investment property is reaching is full potential, contact our Property Management team today on 1300 20 55 70 for your free appraisal or email [email protected].
DISCLAIMER - The information provided is for guidance and informational purposes only and does not replace independent business, legal and financial advice which we strongly recommend. Whilst the information is considered true and correct at the date of publication, changes in circumstances after the time of publication may impact the accuracy of the information provided. Property Boutique will not accept responsibility or liability for any reliance on the blog information, including but not limited to, the accuracy, currency or completeness of any information or links.