Yes, property investors, it is that time again when the end of the financial year is nigh!
Are you organised? Is it time to sort through that paperwork so that everything can be delivered to the accountant quick smart at the beginning of July?
Save yourself some accountancy fees:
- if you own several properties then make sure that all the paperwork for each property is separated
- check to see if you have all your bank statements and all the statements from the property manager and that nothing has been lost along the way
- if you have bought property throughout the year check to see that all the contracts and agreements are there so that the necessary data can be obtained for tax purposes
- if you have not had a recent quantity surveyors schedule done, get one organised now so that you can get the best tax benefits available – check out the set fee offer
You may like to spend some extra money on some upgrades and gain the tax back this year, if so there are only 7 weeks to get it organised. This is not a bad way to fix up properties because you can spend the money and have the GST and tax benefits within weeks of the spend (that is if the paperwork is organised too!)
Give some serious thought to your figures and make sure that nothing has been forgotten.