A Simple Guide To Taxation & Property Investments - My Tax Zone

Taxation & Property Investments A Simple Guide To 2 009/10 Edition Written by David Maynard Registered Accountant and Tax Agent Discover Wealth hidden in your salary! In Australia 1 Discover Wealth Hidden in your salary A Simple Guide to Taxation & Property Investment in Australia (2009/10 Edition) By David Maynard CEO and senior accountant for My EzTax Australia and My Tax Zone Registered accountant and tax agent © This publication is Copyright May 2009 and may only be used with prior approval from Elyon Enterprises Pty Ltd. Testimony: "Thank you for putting together such an informative, easy to read and understand, publication." Ruth – Adelaide. Testimony: “Comprehensive yet easy to read for the lay person like myself who is considering

property investing. Reading this book has allowed me to understand the importance of both a good accountant and choosing the right property for my needs.” Donna – Coffs Harbour. Testimony: “Your publication explaining taxation and investment properties is extremely helpful. I have been a property investor for a few years now but found it very informative and discovered some new tips.” Mary-Anne – Perth. 2 DISCLAIMER ....................................................................................4 Preface............................................................................................5 How the investment property industry has changed the way investors do business..........................................................................................7 How negative gearing works and how you can use it to save tax...........12 How property selection can almost double your taxation benefit...........15 Tax depreciation reports are for new and old. Find out what they are and how you get one.............................................................................18 The Tax Office is holding onto my tax. How do I get it back now?.........23 Mastering the strategy for structuring your finance. The key to cutting the tax office take and keeping the banks out of your pocket.....................26 How to claim a tax deduction before it’s even built!.............................35 The four steps to categorising repairs and maintenance.......................37 Capital Gains Tax – How knowing the basics can save you money.........39 No Goods and Services Tax for property investors...............................44 Knowing where other people have gone wrong can give you peace of mind ....................................................................................................45 Discover how new taxation measures can impact investors’ refunds......48 How to transform negative cash flow property into money in the bank ..51 Want to invest in property but don’t know when to start? Find out what the important issues are..................................................................56 The new “tax haven” – Find out how Self Managed Super Funds can benefit you, your family and your heritage.........................................57 The four things you need to know to access the wealth hidden in your Salary...........................................................................................61 Accounting services that can guide you through the investment property and taxation maze..........................................................................62 3 APPENDIX 1 - Summary of Deductible Items......................................65 APPENDIX 2 – State Government contacts for NRAS ...........................71 EXAMPLE 1 - Cash flow projection (PIA) - NON NRAS EXAMPLE 2 - Cash flow projection (PIA) - NRAS EXAMPLE 3 - Capital Gains Tax Calculation 4 DISCLAIMER My Eztax Australia and the writer do not hold an Australian Services Licence to provide financial product advice under the Corporations Act 2001. The material covers general taxation information which is only one of the factors to consider when making a decision on a financial product. Taxation and property regulations are subject to change and individual circumstances...

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