Maximise your Tax Return this year with a local Qualified Tax Accountant
We offer and utilise the latest in technology and software to ensure your Tax Return is done quickly and easily in a way you will understand. Read More
Getting your Tax Return done with us can be rewarding, we offer incentives for referrals, some people get their Tax Return done for free. — Read More
Business Edge Accountants are more than just “bean counters”, we’re professional accountants and tax agents with extensive training and experience to ensure the whole process is simple and painless.— Read More
Strategic Tax & Business Advice to get the Edge
You don’t have to go to the Top Of Town for HIGH END strategic Income Tax advice to get the Edge for your next Income Tax Return in Albury. Business Edge Accountants, focus on providing you with strategic and cost effective accounting, taxation and financial solutions. We’re here for small businesses and individuals alike, we do Tax Compliance, but we love to look in a bit deeper and offer help through our own expertise, and those of our strategic partners. We look for new opportunities and strategies to build and maintain your wealth and your long term future.
Rental Properties & Negative Gearing
To assist landlords in reducing the audit risk associated with claiming rental property expense deductions, we can help with checklists and advice that helps with most residential rental property expenses, and whether these expenses are generally deductible/non-deductible. Deductions are only available to the extent to which a property is either rented to tenants or genuinely available for rent (i.e., where active and bona fide efforts are made to let the property).
Come in for a consultation and we can also arrange an easy to understand example and analysis of your future purchase. We’ll explain how negative gearing works and addresses the key issues when purchasing a property, including:
- Alternative Ownership Structures and Their Tax Consequences
- The Importance of Capital Growth
- The A-Z of What is Tax Deductible
- The Treatment of Establishment Costs
- The Steps to Buying a Negatively Geared Property
- The Risks, Finance Options and Depreciation Write Off
- The Mechanics of the Capital Gains Tax
- Record-Keeping Requirements
A rental property is negatively geared when it is purchased with the assistance of borrowed funds and its expenses exceed the rental income and a loss is incurred. Losses incurred can then be offset against other assessable income (e.g. salary, wages or business income) – this enables either a reduction in tax payable or a larger tax refund. The largest part of the deduction is the interest portion of the mortgage. You can, however, claim Property Management fees, rates, loan costs and maintenance and repairs.
Negative gearing deductions are most beneficial to people in high income brackets where they are in the high marginal tax rate. This allows larger deductions when you borrow bigger amounts as you will pay more interest which is 100% tax deductible.
Changing Accountants is Easier than you Think!
Are we the right accountant for you & are you the right client for us?
We’re Qualified accounts from Albury, we know the business and we know how to get you set up to suit you and your business. One solution is not for everyone, we look at your and your needs and select the best fit most beneficial outcomes for you to achieve your goals.
- We contact your Current Accountant
- We can Help with Rental Properties
- We’re here for Sole Trader’s
- Business Cloud Accounting Setup and Integration
- SMSF setup and advice
- Wealth Protection & Planning
We do Financial Reporting and Tax Compliance just like every other accountant. But if you’re looking for a change in Accountants or just not sure, we offer free Business Quotes and checkups too. You can come in, check us out, we’ll have a look at your books and see if we can help you get on track to a financially successful future. Call for a free quote : 02 6041 1687 – Find Out More and book in…