All Topics / Legal & Accounting / What should I be asking?

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  • Profile photo of nsw105nsw105
    Member
    @nsw105
    Join Date: 2010
    Post Count: 1
    April 14, 2010 - 1:14 am

    Hi Guys

    I am meeting with an accountant this weekend. I currently own 1 property and I am about to move into my second and will be renting my first one out.

    I know that a good accountant is very important to have but I am not sure of exactly how I should use them.

    At the moment my questins centre around replacing the roof and how I can do that to my best advantage (tax-wise) and also how I shoudl handle the payments of the rent (as I may be renting this out privately)

    Any other suggestions would be gratefully recieved

    Kind regards
    Dave

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    April 14, 2010 - 12:32 pm

    Ask him/her about how you can borrow to pay the interest on the first property (if you have any equity) and thereby free up money to quickly pay down the new PPOR one. This will save you heaps of tax.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 2 posts - 1 through 2 (of 2 total)

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