In Property Investment, How Should You Treat Repairs and Maintenance From a Tax Perspective?

Posted on 8 November 2022

If you are new to the property investment world and have just purchased your first rental property, you should be particularly interested in the topic of depreciation. After all, tax depreciation can sometimes make the difference between a profit and a loss when it comes to such a property. You must ensure that you make the correct deductions when you send in your returns. But this subject can be quite complex, especially when it comes to the difference between repairs and maintenance. [Read More]

4 Tax Tips for Your Side Hustle

Posted on 28 June 2018

Do you earn income from another source other than your primary job? Read on and discover some key tips which will enable you to prepare the tax return of that side hustle correctly. Distinguish Between Hobbies and Businesses Different jurisdictions may have different forms on which the income from a business may be reported for tax purposes in contrast to the forms on which income from hobbies can be reported. Make sure that you select the appropriate form or section as you prepare your taxes. [Read More]

Understanding Property Depreciation

Posted on 26 June 2018

If you have rented out your home, then you are eligible to an annual tax deduction known as investment property depreciation. Simply put, depreciation is the decrease of an asset's value. An asset is anything that can be sold. Since your rental property is subject to depreciation, the taxman allows you to claim this loss in value in form as a tax deduction against your assessable income. This is referred to as property depreciation. [Read More]

How to Deal with Too Much Credit If It's Getting You Down

Posted on 21 June 2018

It seems to be easier than ever these days to get a new credit card or another line of credit, and it can be very tempting to do so when you have a vision of bright, shiny object in your mind's eye. Yet this can easily get out of hand, and it's no wonder that more Australian households than ever are getting into financial trouble. If you have a wallet or purse that is bulging with credit cards and you're not sure where you're going with all this, how can you start to put matters back on track? [Read More]

About Me

How to Manage Your Bank Account

When it comes to money management, the first step you will need to take it learning how to manage your bank account. If you cannot control the amount of money which is entering and exiting your bank account, you will not be able to manage your finances and investments. My name is Bill. I am not a financial specialist and I do not work in the financial industry. However, over the past few years, I have dedicated my life to learning how to manage my money from the best in the industry. I hope you find this blog useful and interesting.

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