Investors

1. Income Tax Returns & Financial Statements

  • Minimise your tax
  • Know your results when you need to
  • Maximise the valuation of your business
  • Improve your borrowing capacity and relationship with lenders

First Choice Accounting have a team of accountants who understand the tax system and are able to provide you with taxation advice. We work with a range of clients, from individuals and all types of business's to provide the taxation advice for your circumstances and special needs. First Choice Accounting's team have the expertise to help your business grow and understand what it takes to help you achieve.

2. Property Transactions

  • Transaction advice
  • Maximise available deductions
  • Minimise capital gains tax (CGT) consequences
  • GST advice
  • Negotiation with lenders

The world of tax and property is complex. To give you an idea, consider the following common terms used: tax, CGT, GST, ABN, Margin Scheme, Enterprise, PAYG variation, main residence, part-period main residence exemption, income producing, intention, profit making purpose, scheme, CGT discount, active asset discount and on and on.

The First Choice Accounting team have extensive knowledge of property transactions and their tax implications. One of our CORE VALUES (LINK) is to practice what we preach. The vast majority of our team have personal experience in property transactions from ownership to investment to development. We have been assisting clients in this industry for many years – you have an opportunity to learn from our knowledge and from our experience.

3. Negative Gearing

  • Understand how it works for you
  • Maximise available deductions
  • Minimise capital gains tax (CGT) consequences
  • Reduce the tax withheld from your salary
  • Negotiation with lenders

Negative gearing is a form of leveraged speculation in which you borrow money to buy an asset, but the income generated by that asset does not cover the interest on the loan (Interest > Income). In general, the deficiency is used to reduce the tax you must pay on income from other sources.

Like most things there are also downsides to negative gearing. The strategy does not work all of the time and for all people so call us to discuss.

4. Rental Properties

  • Buying and selling taxation advice
  • Strategy assistance
  • Maximise available deductions
  • Minimise capital gains tax (CGT) consequences
  • Reduce the tax withheld from your salary

If you rent out property to others, you must declare the income in your tax return, and you can claim tax deductions for many of the related expenses. You may have to pay capital gains tax when you sell the property.

First Choice Accounting can offer tax advice and solutions and can assist you with any investment property tax query that you may have in addition to aiding you in determining the manner in which to structure your properties.

RECENT NEWS

Changes to the super guarantee and upper age limit

From 1 July 2013 the super guarantee increases to 9.25% and the upper age limit has been removed. This means employers may need to make super guarantee payments for...

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Medicare levy increase affects small business

The Medicare levy increase – from 1.5% to 2% – will effectively bring the top marginal tax rate to 47%. This will not only impact...

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Changes to simpler depreciation rules

The small business instant asset write-off threshold has been increased from $1,000 to $6,500 for the 2012-13 income year. As a result, small businesses can claim an accelerated initial deduction...

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BAS/GST/Bookkeeping

The ATO require all business to constantly report information to them via Business Activity Statements, Instalment Activity Statements and annual income tax returns. A robust bookkeeping system is an essential basis for the provision of these reports. Without accurate and timely reports the ATO have the power to impose penalties that could have been avoided.

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Negative Gearing

Negative gearing is a form of leveraged speculation in which you borrow money to buy an asset, but the income generated by that asset does not cover the interest on the loan (Interest > Income). In general, the deficiency is used to reduce the tax you must pay on income from other sources.
Like most things there are also downsides to negative gearing...

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SALARY SACRIFICE

A salary sacrifice arrangement is also commonly referred to as salary packaging or total remuneration packaging. It is an arrangement between an employer and an employee, where the employee agrees to forgo part of their future entitlement to salary or wages in return for the employer providing them with benefits of a similar value.

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SMSF MANAGEMENT

Remove the hassle out of running your SMSF and engage us to do everything for you. Take comfort knowing that we, along with the trusted qualified advisors (auditor, financial planner) we have a long history with, care about you and will do all we can to ensure you spend less time worrying about taxation/compliance/legislation and more time enjoying your retirement!

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