Ep.35 Tax deductions and negative gearing with Jared Pearson
We are thrilled to have Jared Pearson, a partner at Mitchell & Partners, with us this week for an introduction to the world of tax deductions and negative gearing.
HERE’S WHAT YOU’LL LEARN FROM TODAY’S EPISODE:
The accounting services that Mitchell & Partners specialises in;
Why interest is tax deductible, yet principal repayments are not;
What capital costs and expense costs are, and differences between the two;
Other tax deductions available that investors can offset rental income against;
When travel expenses were removed as a deduction for most investors;
Depreciation and depreciation schedules for fixtures and structural items;
AirBnB as a source of revenue for owner/occupiers;
How the ATO determines whether you are making genuine attempts to find a tenant;
Negative gearing, and how it isn’t the only thing or first thing to go for when determining property;
The difference between offset accounts and redraw facilities in the ATO’s eyes; And
Much more
SPEAKERS IN TODAY’S EPISODE
Marcus Roberts - Mortgage Broker
Michelle May - Buyer's Agent
Jared Pearson - Mitchell & Partners
ASK US ANYTHING!
Have a money question you want us to answer? ask@sydneypropertyinsider.com.au
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Please note that any views or opinions presented in this podcast are solely those of the speakers, and do not necessarily represent those of any business. These views and opinions are general in nature, and do not take account of your personal objectives, financial situation and needs. Please consider whether it applies in your circumstances and seek professional advice wherever appropriate.