Steven P. Rider CPA is a Sydney based property accountant specialist with over 25 years experience in property transactions. I will help you with your tax planning when it comes to purchasing, owning and selling all sorts of property including residential investment and commercial properties.
Tax Planning
Australia has a self assessment tax regime and you are legally allowed to reduce your taxes by claiming all allowable deductions. I will legally reduce your taxes by engaging in proactive tax planning so that you can make the right property decisions and grow your property portfolio. This includes assessing your capital gains tax (CGT) obligations and reducing those by planning as much as is legally allowable by the Australian Tax Office (ATO).
Asset Protection
Asset protection plays an important part in growing your investment property portfolio. If something outside of your control goes wrong, you want to make sure your assets are protected, and any potential loss is minimised
An asset protection strategy is necessary to identify possible risks and develop ways to mitigate them. And it should be aligned with your goals. There are many ways to protect your assets, so I focus on your individual goals and financial circumstances when developing your asset protection strategy.
Companies, trusts, and SMSFs are common ownership structures used for asset protection. Structuring asset ownership in this way also provides tax benefits, income distribution options, and an easier way to facilitate generational wealth transfer.
Depreciation Reports
I’ll will arrange and liaise with my quantity surveyor to get the best possible depreciation outcome and use this when it comes to your annual tax return. It’s imperative that each one of your properties has an up to date and professional depreciation schedule. In many cases, I will personally evaluate your property and may order an updated depreciation report with new information that may increase your capital works deductions. Over the years, I have had many clients that have failed to properly claim capitals works or fittings deductions. In these cases I may amend prior year tax returns in order to claim back tax deductions you were legally entitled to.
Financial Statements and Tax Returns for the Bank
I’ll prepare financial statements to give to the bank so that you can maximise your property purchasing opportunities. If your bank requires personal or business tax returns, I’ll help you prepare those at any time during the year.
Accountants Letter
If you are a long standing client, I may provide an Accountant’s Letter (or Certificate) for your bank or mortgage broker. This letter will outline for financial circumstances and address your capacity to repay a property loan. I can only offer Accountant’s Letters where I have a detailed knowledge of your financial circumstances and have prepared your financial statements accordingly.
Work with Your Mortgage Broker
I’ll liaise with your mortgage broker to provide tax returns, accountants certificates, financial statements and reports as required by the lending institution.
Work with Your Real Estate Agent
Whether you are selling or buying, I can liaise with your real estate agent to provide the necessary accounting and tax documents and plan for capital gains tax so that you pay only the legal minimum. Also I make sure your rental statements are in order and use these to complete your tax return and claim the maximum tax deductions.
Audit the Trust Account of Real Estate Agents
In accordance with the PROPERTY AND STOCK AGENTS ACT 2002 , Section 111 conduct an audit of the Real Estate Agency Trust account. I am qualified to perform the audit of Trust accounts under section 115 as a holder of a Public Practice Certificate issued by CPA Australia.