Perth Property Insider Ep. 57 - Minimising Tax Over the 3 Phases of Investment - Part 1

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After one whole year of doing podcasts, I realised that we haven’t really talked about any accounting or tax topics. Probably not one of the most exciting topics but it’s something that everybody needs to know about because creating wealth is not just about what money you make but how much you can keep so minimising taxes is essential.

So I invited the best person to tackle this topic today, Stuart Wemyss — a leading financial adviser with over 20 years of experience.

Today, we talk about the three phases of a property’s life, and the tax considerations for each phase.Stuart also gives us some tips on how you can minimise tax and enlightens us on how we can make better investment decisions today.

Let’s kick off the year with an insightful conversation and be sure to tune in next week for Part 2.

Highlights:

Introduction [0:00]
Things you should start to think about tax from a long term perspective [3:28]
The three phases of investment [4:15]
- Phase 1: The Negative Gearing Phase [5:19]
- Phase 2: The Neutral Phase [7:35]
- Phase 3: The Tax Liability Phase [8:00]
  - Taxes included in this phase [10:44]
Things you need to consider in passing on property inheritance [13:48]
Income tax considerations in going through the 3 phases [17:01]
- Tips to minimise income tax in a long term view [19:31]
Minimising land tax [21:39]

About Our Guest:

Stuart Wemyss is a financial adviser, tax agent, and mortgage broker. He founded ProSolution Private Clients, which provides commission-free financial planning, accounting/tax, insurance, and mortgage broking services. ProSolution is unique in that they have an equal amount of experience in investing in both property and shares.

Stuart is also the author of the books, Rules of the Lending Game and Investopoly.

Thank you for tuning in! If you liked this episode, please don’t forget to subscribe, tune in, and share this podcast.

Resource Links:

Prosolution Private Clients – Stuart Wemyss (https://www.prosolution.com.au/)
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