Property Tax Specialists
Accounting Services in Willoughby

With extended growth of property values, awareness and interest have grown enormously in the slow 90’s. Pointing to the growth rates agents and other promoters were enticing people to invest in property. Riches creation seminars were preaching how to invest with least or no cash, as well as, acquiring multiple properties as a means to retirement bliss with passive income, interest has soared to great heights. With greater awareness of property in the community and a personal interest in property investment development as well as continually being asked to advise on property issues, Shukri Barbara decided to focus on helping and supporting clients’ with an interest in property investment maximizing their opportunities and protection while legally minimizing their tax liabilities. Shukri Barbara is a CPA with over 30 years experience in public practice and professional associations encourage service. To help him better understand business opportunities from other people’s point of view he undertook a post graduate marketing course. Where other accountants may focus only on costs and expenses, the marketing background together with the accounting and broad business experience provide Shukri with a more valuable and unique outlook to investment and business opportunities. He combines his skills, not only to profit clients but in his own practice and other business operations. Where necessary, Shukri calls on, coordinates and manages appropriately qualified associates to aid with client projects.

Finding it expensive to maintain the home, should i sell or rent it out? Can we claim the interest as a deduction against the rental income? We want to sell some and keep others for rental returns. Be there a sounding board for your ideas and ambitions discuss the questions you have helping you make those crucial decisions including: What is my risk profile? In whose name should the following property be in? What is included in the cost base? Healthy our clients do because they’re already structured to pay less capital gains tax. Capital Profit on Land, holiday houses and other property not generating income is also subject to tax. For CDT purposes, the cost bottom will include the buy price, stamp duty, legal fees on buy and sale as healthy as agent commission on sale. Where it was beginning established as a AR the cost base of the property will be the market value when first rented. This amount would be included on the income tax return for the financial year when the sale occurred. For a property, the cost base includes the buy price, stamp duty, legal on purchase and sale, agents’ fees on sale, renovations. Where the property was purchased behind 21 August 1991, the cost base can also include the rates, repairs and maintenance costs and interest to finance it acquisition but only if they were not claimed as deductions against rental income. I believe this will help you gather your information and make it easier to prepare your income tax return and improve your decisions in relation to managing your rental properties. Repairs made immediately behind buy of the investment property or maintenance to make the property apropos for rental are considered to be of a capital nature piece of the cost of the property and can be depreciated. On Purchase price forms portion of Cost Base reducing Capital profit on sale. Where the property was not available for rent, then all the expenses described overhead are not deductible Particularly relevant where the property is impaired as your personal holiday accommodation. Cost of improvements or renovations can only be depreciated over 40 years at 2.5 p.a. Capital Gains on selling a previously Main Residence estimate tax. The margin maneuver is an alternative way of working out the CST you must pay when you sell property. The margin manipulate is a way of busy out the CST you must pay when you sell property as piece of your business. I like to labor with specialists, and Shukri is certainly a suited professional when it comes to tax and in special property tax. Shukri is a professional and in my view he is the go to person when it comes to property tax issues. Our vision is to be MSW’s most trusted adviser for people with investments in property.