I have just purchased my first investment proprty and and about to go the accountant to see what I have to do ,.Are there any questions I should ask to make sure I am getting the Best deal from them [cowboy2]
Hi Kariba,
First Question – Do you own investment properties?
Second Question – I buy a block of land and build and investment property on it – can I claim the interest on the block and also on the loan drawdowns used to pay construction costs?
Third Question – Is is worth claiming depreciation?
Fourth Question – What are the benefits and negatives outcomes from claiming depreciation?
Fifth Question – What service (between tax returns) do you provide?
Sixth Question – Can I call you if I want to clarify something? How much will it cost?
Seventh Question – How do you stay abreast of changes in the tax act as they relate to Investment Property?
Eightth Question – What qualification do you hold?Derek
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Skype – derekjones2113Thats all great Derek but I’d also add “What can I do to make your job doing my tax return easier ?”
Record keeping for tax purposes has been covered numerous times on the Forum so do a search or check out the tax office web site for more details.
PS. You probably should have gone to see your Accountant first though to ensure you;re buying in the correct entity !Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”Hi Kariba,
Nothing further to add here – Derek’s and Amanda’s posts are both very relevant.
I just wanted to ask – with a username and avatar like yours, are you an ex-Zimbo/Rhodie? I was born in Umtali/Mutari and came to Oz in 1980!
It’s good to have another one aboard (if you are one!). Regardless, welcome to the forum – I’m sure you’ll find it to be a wealth of information and advice.
Cheers,
Adam
Oasis Finance
for your Vendor Finance solutions
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