Investment Property Tax
Deductions Checklist for FY 2024

TMS Financials is an online Sydney tax accounting firm that offers exceptional accounting services to businesses and individual clients. Our team is dedicated to delivering excellent, tailored services to meet a broad range of financial and tax-related needs, whether you’re a professional in the CBD, manage a family-owned business, or derive your income primarily from investments. We provide thorough support in personal and business tax returns, financial planning, and strategic business advice, ensuring comprehensive management of your tax obligations and financial goals.

With our expertise in accounting and taxation, we navigate complex tax laws and maximise your financial outcomes. We offer services that cover income tax, Capital Gains Tax (CGT), and Goods and Services Tax (GST), alongside preparing financial statements and business activity statements. Whether you’re a sole trader, a small business owner, or an investor, TMS Financials is committed to helping you secure the best possible results in all your financial endeavours.

Why choose TMS Financials?

TMS Financials is a CPA certified accounting firm dedicated to supporting small and medium-sized business owners and investors. Operating from two strategic locations in Sydney, we provide our services online, offering expert tax advice, tax planning, asset protection, and tax compliance.

We celebrate 30 years of trusted service

With over 30 years in the industry, TMS Financials is known for its reliability and exceptional service. We are committed to offering accurate financial advice and asset protection, maintaining honesty, professionalism, and quality in all we do.

We are consistently reliable

You can rely on us for prompt responses and proactive management of your tax and financial matters. We ensure your finances are up-to-date and in line with the latest tax laws.

We uphold unwavering integrity

Trust and integrity are central to our approach at TMS Financials. We manage your financial affairs with the utmost care, ensuring you can trust us completely.

We offer experienced advice

Benefit from our three decades of experience across various industries. We provide personalised advice tailored to your specific needs and circumstances, guiding you through your financial journey with expertise.

Why professional advice can help to save money

Investing in property can be profitable, but it can be complicated to maximise tax deductions. The details of tax laws, changing regulations, and specific deductions can be confusing for property investors. Professional advice from TMS Financials can help you save money and understand investment property tax deductions, including capital works deductions, depreciating assets, and deductible expenses.

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Comprehensive understanding of deduction categories

As a sole trader, your business income is treated as personal income, allowing you to benefit from the tax-free threshold not available to companies, which pay tax from the first dollar earned.

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Stay compliant with tax laws and regulations

Tax laws change frequently, making it hard for property investors to stay updated. A tax advisor from TMS Financials understands the latest tax regulations, including capital gains tax, land tax, and income tax. Our decades of experience and knowledge ensures your deductions comply with current laws, helping you avoid mistakes and penalties.

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Identifying deductible expenses

Distinguishing between deductible repairs and improvements can be tricky. Advisors at TMS Financials accurately identify these expenses, preventing errors that could lead to audits. Their expertise ensures proper categorisation of expenses, safeguarding you from potential issues.

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Maximising depreciation benefits

Depreciation is crucial for property investment tax deductions. TMS Financials guides you through depreciation schedules, ensuring you claim the maximum benefits. Their expertise ensures you fully utilise depreciation deductions.

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Personalised advice for your property investment

Each property investment is unique, and so are its tax implications. TMS Financials provides tailored advice based on your specific circumstances and goals.

TMS Financials can help optimise your investment property tax deductions. Their expertise in deduction categories, changing tax laws, and expense determination will save you money and simplify property investment taxes.

To maximise your returns and ensure compliance with tax regulations, partner with TMS Financials for expert guidance and peace of mind.

Next step is to contact TMS Financials

TMS Financials provides you with a team of experienced professionals that help you achieve your financial goals through smart tax structures and strategic structuring.

Book a financial health review to see the difference we can make in your financial future.

Disclaimer

The information provided in this article is for general guidance purposes only and should not be considered as personalised tax advice. It is recommended to consult with a qualified tax professional to assess your specific situation and determine the most suitable tax planning strategies for your needs.

Contact us today for a consultation.

Contact us today to learn more about how our accounting services can benefit your business. We look forward to hearing from you and helping you achieve financial success!

Book a consultation today

Investment Property TaxDeductions Checklist for FY 2024

Complete the form to access your Rental Property Deductions Checklist