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/ 

Subscribe: 

○ Subscribe on Youtube: https://www.youtube.com/channel/UCr3PTV82iM2way1I_PxpK0g 

○ Subscribe on Apple Podcast: https://podcasts.apple.com/us/podcast/property-and-investing/id1657091001 

Connect with Property and Investing: 

○ Join the Property and Investing Community: https://www.facebook.com/groups/propertyandinvesting 

○ Follow us on Facebook: https://www.facebook.com/propertyandinvestingcom 

○ Follow us on Instagram: https://www.instagram.com/propertyandinvesting/

○ Follow us on TikTok: https://www.tiktok.com/@propertyandinvesting

○ Send your enquiries or drop by to say hello: grant@propertyandinvesting.com 

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.

Support the show: https://linktr.ee/propertyandinvesting

See omnystudio.com/listener for privacy information.