As tax time approaches, we would like to highlight a few things.

• A good strategy to reduce the tax you pay is normally to accelerate any income tax deductions into the current income year. This will reduce overall taxable income in the current year.
• There are some common types of deductible expenses claimed by individual taxpayers, plus strategies that can be adopted to increase deductions for the 2016/17 income year.
• Many of our clients like to review their tax position at the end of the income year and evaluate any year-end strategies that may be available to legitimately reduce their tax.
• As a landlord, any professional services you require to maintain the investment may be tax-deductible. Property management services are tax-deductible and will most likely lower your tax bill.
• You may claim the entire cost of the services, but you must keep all of the invoices or statements the property management company issues you as evidence of the deduction’s eligibility. Speak to Angelique our Senior Property Manager about our services.

Click here to download a free tax time checklist to ensure you get back as much as you are entitled to. For more information about your property tax return, or for a free consultation about you individual taxation needs, chat to WhiteStar Accounting.