Your Investments

There are so many ways to invest for your future: shares, cash deposits, government bonds, company debentures, life insurance, investment properties in residential or commercial types, and the recently popular self managed superannuation fund.

On this page, we outline what is needed for the 2 major investments that most Australian clients take part in:

 

Investment Properties

What to have ready when we prepare your taxes on investment properties:

  • Address of property

  • Date on which your 1st income was generated

  • Number of weeks in the tax year under review that the property earned rental income

  • Ownership details: Name(s) of owner(s), ownership percentage

Income details and amount: Rent received, other receipts, etc.

  • Legal fees

  • Pest control

  • Property agent fees

  • Repairs & maintenance

  • Capital works (2.5% on cost construction)

  • Stationery, telephone, postage and travel

  • Water rates

  • Sundry expenses

  • Expenditure

  • Advertising for tenants

  • Body Corporate fees

  • Borrowing costs

  • Cleaning

  • Council rates

  • Depreciation of fixtures & fittings

  • Insurance

  • Gardening expenses

  • Interest on loans

  • Land tax

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Self Managed Superannuation Fund (SMSF)

Many Australians come to us concerned about superannuation. With share market fluctuations and regular government rule revisions, many think it’s not a good idea to put their hard-earned money towards superannuation. There is another way of investing money towards your superannuation – SMSFs.

 

SMSFs are set up with four or fewer members, the sole purpose being for retirement. You can invest in shares & properties, but you can’t take money out of SMSFs unless it is for retirement or under another eligible purpose. SMSFs enjoy lower income tax rate at 15% on income made within SMSFs and zero Capital Gain Tax (CGT) when selling out properties upon retirement.

 

Other benefits of SMSF's:

  • Investment control and opportunities

  • Family wealth accumulation vehicles

  • Preferred investment vehicles

  • Estate planning opportunities

  • Borrowing opportunities

To find out if an SMSF is right for you, contact us for a free appointment today, or submit an e-mail request form.

There are many things to be aware of. SMSFs are not for everyone. Members/Trustees of SMSFs have responsibilities to maintain:

  • Having certain funds to establish the SMSF

  • SISA compliance requirement – sole purpose test

  • Have an investment strategy and invest responsibly

  • Keeping proper records of the SMSF

  • No lending of SMSF money, even if it is to other members or relatives

  • No borrowing of money

  • Keeping in-house assets within the 5% threshold mark under total assets

  • Buying and selling assets at true market value

  • Making sure contributions fulfl the eligibility criteria

  • Completing and lodging GST activity statements if needed

  • Completing the compulsory annual SMSF audit