What are property tax specialists accountants?
What do they do and how do they help their clients?
Property tax specialists are tax agents and qualified accountants that specialise in property and have experience in advising property investors. A property tax specialist accountant is a trusted property tax adviser that will ensure that all appropriate expenses and deductions are accounted for, but will also assist you in setting up where it will maximise your tax minimisation and asset protection. They also help clients understand cash flow requirements, as well as serviceability and affordability, and how these relate to their overall big picture and return on investment.
Most importantly, property tax specialists help investors understand the context of using property and how it relates to their objectives.
For instance, what size does the portfolio have to be to obtain a certain amount of cash flow; is their plan realistic, and when do I sell to utilise the net proceeds in other ways?
In other words, good tax advice should be given in the context of the holistic overall strategy – and when it comes to property, property tax specialists are ideally placed to help you. For instance, it may be better for a high income earner to purchase a highly negative geared property with good potential capital growth, because they will get a tax refund to help decrease their holding costs. They will also not have to pay any tax on the growth until later date when selling, as opposed to a positively geared property with less potential for growth, on which they may have to pay tax on the positive income at a high tax rate.
Planning for the purchase of a property is often a neglected area in which a property tax specialist can again prove their worth.
- Whose names and what structure to use as the owner?
- How it is funded, and
- the level of leverage
…(these) can all make a significant difference in tax, not only from an operating perspective but also on the sale of a property.
A good property tax specialist accountant is one that provides strategic recommendations on how to grow and protect your wealth through property and factors in all aspects of the wealth creation through property process – acquisition, ownership and eventual sale / transfer of the property to another person or entity.
Property tax specialists know how to legally reduce your tax, improve your asset protection and give you the right tax advice as part of an overall strategy in line with your objectives.
Did you know?
Ian Seeto is the Managing Partner of Chan & Naylor Property & Business Tax Accountants in Pymble, NSW. He was nominated as a highly recommended property tax specialist accountant in the 9th Annual Readers Choice Awards published by ‘Your Investment Property Magazine‘ (December 2016).
What a Reader of Your Investment Property said:
“Ian provided a huge amount of information in structuring our property investment financing. We spent two hours in their office with them…and have since been using them for tax returns and further advice” – Luke Friel
Find your local Chan & Naylor property tax specialists today