by Jason Ginns
One of the hot topics around the table at any social gathering these days is the continued growth in property prices in Australia, hand in hand with record low interest rates.
It’s been hard to ignore for any property owner, and even more so for those looking to enter the market. Still, there’s far more than buying or selling at a good price when it comes to property ownership and investment.
Over the coming months, Lambourne Partners intends to roll out a series of articles to assist you in your property ownership journey, including areas that are often overlooked by the less experienced property owners and investors. Often there is no clear-cut right or wrong answer, but it’s about being aware of the pros and cons of the options available to you, so you can make the decision that best suits your circumstances.
What To Consider
To get the ball rolling, below are some of the issues property owners and investors may need to consider:
- Structuring the ownership of your property
- How much can you borrow?
- Structuring the finance of your property to maximise your tax benefits
- Cash flow and budgeting
- Maximising your property-related tax deductions
- How does negative gearing really work?
- Old vs new properties – what are the differences
- What is your investment strategy?
- What is your exit strategy?
- Minimising or potentially avoiding Capital Gains Tax (CGT) on the sale of your property
- Minimising or potentially avoiding the annual cost of land tax
- Property development (including subdividing the family home) – GST and income tax
- Residential vs commercial properties
- Acquiring your own business premises
- Asset protection and protecting your property from the risks of your business
- How do you meet your loan payments if you suffer a major injury or illness?
Oh, so easy? Maybe, maybe not!
It mightn’t be easy, but if you seek the right advice from the right people, then property ownership and investing can be made easier.
Your team should include an accountant to help maximise your tax planning and strategies, a smart finance broker to help you meet your finance needs, an experienced solicitor to protect you and your property, a property professional to help you find (or sell) the right property, and a wealth advisor to help plan and protect your future.
Keep your eyes open for our upcoming articles as we dive into the above areas and provide you with some real value and insights in your property ownership journey.
If you can’t wait and are looking for some personal guidance in relation to your property activities, reach out to Lambourne Partners below and we can help you with your tax, finance, and wealth advice needs, and/or put you in touch with one of our legal or property professional contacts.