Property Tax Structures: Best Resources to Understand

[jaime]

I would like to purchase my first investment property in the near future and know that it is recommended that I speak with a Property Accountant to discuss and be advised of the best Tax/Entity Structure to use.

However I would like to have some good background knowledge so that I know myself that I can agree with their best advice and also so that I can make sure I know all my options.

So I put it to you guys, what are your favourite/best books/dvd resources to understand tax/entity structures for property investment in Australia?

 

[Terry_w]

How rich are you?

The Trust Structure Guide is the best introductory book but costs about $350 and buy the time you buy it it will be out of date already!

There are various DVDs being sold by The Taxation Institute, Tax Payers Australia, TVed etc but they are also expensive and only cover certain aspects in detail rather than a broad overview.

And don't forget trusts are not entities but legal relationships so you will need legal advice as well as tax advice - tax is only 1 aspect to consider.

 

[jaime]

How rich are you?

The Trust Structure Guide is the best introductory book but costs about $350 and buy the time you buy it it will be out of date already!

Thanks for the recommendation Terry. Not rich dollar wise yet unfortunately, but at least can consider myself rich in other areas of life

Do you think this would be good book for a beginner investor? I am going to have a look into it but by the sounds of it does it focus on only trusts? I am considering trust vs company vs individual situation.

 

[Terry_w]

Do you think this would be good book for a beginner investor? I am going to have a look into it but by the sounds of it does it focus on only trusts? I am considering trust vs company vs individual situation.

It considers companies too to a certain extent. Written by lawyers for accountants it is not too technical, it has tables comparing different trust set ups - about 14 different types of trusts but this doesn't cover companies or SMSF.

maybe see if you can find it on google books for a flick through.

 

[Terry_w]

Here it is only $200 now
http://www.taxinstitute.com.au/publications/books/trust-structures-guide

But that edition is about to be superseded by a new one I think.

 

[jaime]

Here it is only $200 now
http://www.taxinstitute.com.au/publications/books/trust-structures-guide

But that edition is about to be superseded by a new one I think.

Cheers for that

 

[LeoT]

" I would like to purchase my first investment property in the near future and know that it is recommended that I speak with a Property Accountant to discuss and be advised of the best Tax/Entity Structure to use.However I would like to have some good background knowledge so that I know myself that I can agree with their best advice and also so that I can make sure I know all my options.

So I put it to you guys, what are your favourite/best books/dvd resources to understand tax/entity structures for property investment in Australia?"

Hey Jamie, Congrats on deciding to start investing in property! To be honest though, learning about what makes a good investment property would probably be a little more important than tax/entity structure, especially for your first property. Most likely its gonna be in your own name and or a partner. Your good finance broker can advise you on that and save you a lot of time. there. Done. Now start on learning the property stuff, if you haven't already. Good luck mate!