Investment Property Accountant in Melbourne
Well you have finally purchased your first investment property. Or maybe it’s your fourth. And you are looking for an investment property accountant in Melbourne. What an exciting journey you have started.
Surely all tax accountants understand the complexity of property and tax ? Unfortunately this isn’t the case.
Over the many years I’ve seen some poor advice given to clients from how to structure the acquisition through to minimising their capital gain on sale.
So how do you know if the accountant does specialise in this. Fortunately for those who contact us we can refer them to the book we have published “Things Your Accountant Never Told You About Investing in Property”
There are some simple questions that might be worth asking the person you talk to
- How many of your clients have done property developments ?
- I’ve heard about 3rd element costs reducing a capital gain. What are they ?
- Is it true that some interest expenses are no longer deductible ?
- I’ve heard that if I lived in a property and rented it out I still might be able to pay no tax on the sale. Is this true.
Another thing that is really important is how you get on with the person. Will you be allocated to a junior staff member and the partner who has all the specialist knowledge isn’t available to help you.
It happens quite a lot and one of the main reasons that people come to talk to us.
So if you have an investment property , doing your first development or a seasoned property developer then give us a call.
We have published an article on LinkedIn where I talked about the 4 Key Mistakes First Timers Make in Purchasing a Property. Make sure you have a read so you dont make the same mistakes