Property Tax Accounting
Our team of property accountants can advise you on all matters in tax when it comes to purchasing, selling and income tax on your investment property.
Investment Property Tax Return
When lodging your investment property tax return, you must ensure that you declare all income you have received and the expenses you have incurred with your investment property.
It’s important that you collate all your investment property records. If you use a property manager, you will receive an annual tax statement detailing all income and expenses.
Investment property income may include:
- Rent received from tenants
- Rental bond returns
- Insurance payouts
Investment Property Tax Deductions
Immediate investment property tax deductions can generally claim for expenses concerning the maintenance and management of your property, including interest on loans.
Below are some examples of tax deductions you can claim on your investment property:
- Advertising for tenants
- Body corporate/strata fees
- Council rates
- Interest on loans
- Legal expenses
- Pest control
- Repairs and maintenance (through depreciation)
- Accounting fees
- Gardening and lawn mowing
- Bank charges
- Property agent fees and commission
- Quantity surveyor’s fees
- Telephone charges
- Capital works and improvements (through depreciation)
- Land tax
Often, you may negatively gear your property if your expenses exceed your income on the property.
Box Advisory Services Property Tax Accounting
Box Advisory Services are property tax specialists focused on property tax accounting. With the help of Box Advisory Services, we can:
- Afford better asset protection by assisting you in effectively structuring your investment portfolio
- Improve cash flow on your investment property by claiming various tax deductions on expenses
- Legally reduce tax liability with your investment properties
- Claim on all tax deductions that you are legally permitted to
- Gain access to our finance network to receive the lowest interest rates available
- Help develop a future investment property strategy
At Box Advisory Services, we aim to maximise your investment property claims as well as protecting your wealth. By appropriately structuring your business, it can have significant benefits in asset protection and reducing your tax liability.
With over 13 years’ experience in property tax accounting, we have developed many bespoke strategies for our clients to benefit them and future-proof their investments in the years to come.
Related blog posts
“Box AS has been outstanding to work with and has been instrumental in our business growth in the last 3 years. We have worked with other accountants and advisers in the past that will complete our accounting work but no more and do not understand our business and industry. Box AS, on the other hand, understand our goals and map out strategies for growth. They go above and beyond and come up with key issues we would never have known about.”
“We first engaged Box AS for advice on the business acquisition and liaising with financiers, solicitors and the vendor. The team at Box AS is highly professional, knowledgeable, committed and hard-working. We were really happy with the initial service that we decided to continue our engagement with a month to month accounting service.”
“Davie and his team has helped our startup get off the ground, it has brought peace of mind knowing that the accounting side of our business can be taken care of while we can focus on our business. Being able to have him and the team contactable to ask questions about accounting best practices or other accounting related questions has allowed us to focus on providing value to our own customers.”
Not sure what you need help with?
Don’t worry, book a free consultation with us and we’ll help you work out your business needs