Keeping thorough and accurate records and paperwork for your property investments is now even more important.
As a property investor, it’s important to claim all the tax deductions you’re entitled to. However, some people claim expenses that they are not entitled. This is what the ATO is cracking down on.
We always recommend that once you are a property investor, it is time to get a good accountant (if you don’t already have one). This way you can legally maximise your tax refund, which can go towards things like:
- A contribution of any out of pocket expenses – this enables some investors to have a negatively geared property but have a positive cash-flow outcome
- Paying a chunk of cash off the owner occupier (home) loan which reduces their non tax-deductible debt
- Go on a well-deserved holiday – or anything else you would like to do with a lump sum payment
To help you get more organised, claim all of the correct expenses and make your life (and your accountants) easier, consider using a property portfolio manager.
A good property portfolio manager can help property investors track, monitor, store documents for audit and report figures to their accountant.
For a limited time, the ASPIRE Property Advisor Network is offering a 24-month FREE trial of their Property Portfolio Manager.
It’s cloud-based software. So as the photos show, you can access it on tablet, phone, or your computer. So you can keep track of your assets with 24/7 live access, anywhere.
No more excel spreadsheets or trying to locate documents in a shoe box.
“To help you get more organised, claim all of the correct expenses and make your life (and your accountants) easier, consider using a property portfolio manager.”
Want to check out the portfolio manager? Fill in the form below and we’ll arrange your FREE 24-month access.