We all know that pre June 30 is the time to engage with our accountants and look at how we can maximise our personal tax returns, but is there a better option for those investing in property?
The Dichotomy is becoming more apparent in terms of where investors turn to when seeking a bespoke and a holistic solution at this critical stage of the year.
It’s well known that accountants are great at dissecting the numbers from the past to optimise your current position to save as much as possible (legally we hope) and at the opposite end traditional financial planners have a stigma attached to them for reviewing investors assets in shares, managed funds and bonds (in and outside of Super), with a bias toward providing savings and wealth creation options in the future. So it seems not one company or industry have been able to compliment the needs of an investor who requires a trusted adviser to provide them with independent advice (with no products attached), for the past, now & the future, whilst overviewing all asset classes (including specific property advice).
Nobody questions the value of accountants, they are a necessity no doubt… however like anything it is all about getting a trusted independent team around you working together to help you manage and build your wealth with the end goal in mind. We actually find that some of our most successful clients allow us to work closely with their accountants so that everyone is on the same page and working for the client from the start! There is no point having the best accountant saving you tax and reducing your taxable income to zero by being creative, only to see that restrict you as a property investor, when you seek out your broker, bank manager or property adviser to action your plan and realise you are now unable to borrow any money (as your serviceability is reduced or even completely gone). This seems to happen more and more, which is why a team of professionals working together is vital when looking at building and maintaining your portfolio to maximise your ability to achieve your goals and passive/equity outcomes within a defined time frame.
When we talk about more specific advice in property we are not simply referring to sourcing a depreciation schedule to help you depreciate your assets within each of your investment properties (although it amazes us that almost 50% of investors seem to ignore this simple tax haven), we are talking about providing the market with a full financial plan looking at creating the right entities and structures for your medium to long term goals, overviewing existing borrowing positions, reviewing your super situation and whether it is right to use as a wealth creation vehicle, risk profiling / mitigation, estate planning and most importantly specific property strategies that are built and aligned to complement each client’s individual life stage, risk profile and scenario.
PPI Investment Advice is the only independent financial planning and advisory business that specialises in property as the main asset class.
Speak with one of our qualified advisers to understand how we can help you not only save tax but create an ability for you to deliver a passive income and equity outcome that will allow you to achieve your financial goals sooner than you may realise.