End of Financial Year is fast approaching
End of Financial Year is fast approaching so what does your Property Manager do for you?
At Beautique Realty we adopt the following steps to ensure our clients are ready to finalise their Property related financials for the year.
1. Make sure all your property related invoices are processed from rental income prior to the 30th of June.
2. Ensure all routine inspections are completed so that owners can make decisions about any maintenance items that need to be done.
3. Arrange any BMT Tax Depreciation inspections on behalf of clients, meeting the scheduler onsite if required to conduct the report.
4. On the 1st business day of of July, prepare a detailed financial summary for our clients showing the income and expenses of the rental property for the prior financial year.
5. Prepare the report and share this with our clients in their owner portal ready for the appointment with their tax accountant.
Have you considered what you can claim?
Here is a list of things you may want to review to make sure you are maximizing your return on investment.
For your investment properties make sure you have considered the following:
- Council and Water Rates
- Strata Levies
- Agent statements
- Bank fees
- Borrowing costs (eg. Mortgage insurance, application fees etc)*
- Repairs and Maintenance
- Interest on loans
- Depreciation and Special building write off*
- Travel expenses
- Renovations or improvements you have made to the property*
- Land Tax
If you require any assistance at all in managing the needs of your investment property and maximising your return then please do not hesitate to contact the Beautique Realty Property Management Team today.