Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

Property Investors Urged to Act Now to Save Money

Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

Property Investors Urged to Act Now to Save Money

Article excerpt

PROPELL National Valuers is urging Queensland property investors to do some simple planning and research to avoid losing out on cash entitlements this financial year.

The property experts have compiled a list of top tips to help investors minimise their tax payable and maximise deductions and returns.

Propell National Valuers CEO Bart Mead said critical steps included actioning expenses now and researching eligibility for tax benefits.

aMany smart investors possess a great understanding of the property market but fail to capitalise on significant potential tax savings,a he said.

aWhile tax strategies should be a year-long process, we know that June presents the last chance for end of financial year activity.

aProperty investors should do some research into what they can claim, and look to pay any related costs now so they can claim these expenses and enjoy less time a[approximately]out of pocket',a he said.

The list also suggests investors keep detailed records of property expenses, refer to tax depreciation schedules, understand capital gains tax concessions and investigate the ATO's PAYG withholding variation. …

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