It should not be hard at all, as long as no fees are outstanding to old accountants, changing to a new firm should be straight forward. New accountant will write a letter requesting all information/records be provided to them in the event the client has not already been provided the records. The new accountant should also be able to access certain…[Read more]

Hi SamsonAn offset account allows you to reduce the interest you pay on your IP loan during the period the money sits in the account.  The benefits of the offset account from a tax perspective is as follows:Lets say you have managed to save $50,000 in an offset account and your IP loan is $400,000, though during that time you have also reduced…[Read more]

Hello KasheIf you are in your mid 30's I agree Super may not be best option, I would be looking at combining some cashflow positive and negative geared property in your personal names.You may also wish to consider properties in individual names to access the Land Tax Thresholds around Aust.Though things may change in the tax landscape in the…[Read more]

Hello GaryIf you reside here in Australia you will need to file a tax return with the NZ property here in Aust, you will also need to file a NZ Tax Return.We can put you in touch with NZ accountants that currently assist our other clients.  Since the Aust gov changed laws on interest overseas negative gearing has tax advantages.Anna KyriacouAKA…[Read more]

Hello RyhsCongrats on your achievements so far, there is no doubt you will be very successful.  From personal experience property development is very risky if not enough homework and funding is in place.  I would recommend as you have just recently purchased your unit (which I am assuming you live in) and your business sounds still young I would d…[Read more]

Hello KasheThe article is still relevant on many aspects.  It is hard to answer your question not knowing your reasoning for setting up a Trust.  Also what type of a trust is it?Things to consider, if you do acquire CF + rental then you will be paying a higher tax on the excess of Rent – Interest – Other Expenses.As you are looking for long term c…[Read more]