Property Tax services in Eastwood
Maximize Your Property Tax Savings with Expert Support
With years of hands-on experience as a property investor, Robert brings a deep understanding of the Sydney real estate market and the tax strategies that work best for investors, homeowners, and business owners alike. We specialise in helping clients navigate the complexities of property tax and provide tailored tax strategies designed to optimise your tax position, maximise deductions, ensure ATO compliance, and minimise what you owe.
How Much Should You Pay in Property Taxes?
The amount of tax payable on property depends on several factors, including:
Property Type – Residential, commercial, or investment.
Ownership Structure – Individual, company, trust, or SMSF.
Rental Income – Taxable income from leased properties.
Capital Gains – Taxes on property sales profits.
Deductions & Depreciation – Allowable expenses to reduce taxable income.
For the 2024-25 financial year, property tax obligations include income tax on rental income, capital gains tax (CGT) on property sales, and land tax where applicable.
Types of Property Taxes in Australia
Rental Income Tax
If you earn rental income, you must declare it on your tax return. Deductible expenses that reduce taxable income include:
Interest on property loans
Property management fees
Maintenance and repairs
Depreciation on fixtures & fittings
Land tax and council rates
Property insurance
Capital Gains Tax (CGT)
When you sell an investment property, CGT applies to the profit made. Tax minimization strategies include: 50% CGT discount (for properties held over 12 months)
Main residence exemption (if it was your primary home)
Property-related expenses deduction (to reduce CGT liability)
Land Tax
Land tax applies to property owners whose total land value exceeds the state threshold.
Rates vary by state.
GST on Property Transactions
GST applies to new residential properties and commercial property sales.
GST does not apply to rental income from residential properties.
Stamp Duty
Stamp duty is a state tax on property purchases. The amount depends on location, property type, and buyer eligibility for concessions.
How to Lodge a Property Tax Return
Determine Your Ownership Structure
Individual Ownership – Declared in your personal tax return.
Company Ownership – Subject to corporate tax rates.
Trusts & SMSFs – Different tax treatments based on structure.
Organize Essential Tax Records
Keeping detailed records is essential for tax compliance. Documents to retain include:
Rental income statements
Loan and mortgage interest records
Invoices for repairs and maintenance
Depreciation schedules
Purchase and sale contracts
Claim Eligible Property Tax Deductions
A well-structured tax strategy ensures you maximize deductions, including:
Interest expenses
Capital works deductions (building depreciation)
Depreciation on furniture and appliances
Advertising and marketing expenses for rental listings
Rates (Varies by state)
Understand CGT and Land Tax Obligations
If you’re selling an investment property, ensure you understand:
CGT exemptions and discounts
How property expenses impact CGT calculations
The tax implications of reinvesting profits
File Your Tax Return on Time
Lodging your tax return by the deadline avoids penalties. A registered tax agent can help with extensions and compliance.
Property Tax, Bookkeeping, and Compliance Support.
We provide expert tax advice tailored for property owners, ensuring compliance and maximizing tax benefits.
Get an extension until May 15th.
Frequently Asked Questions (FAQ)
What is property tax?
Property tax includes land tax, capital gains tax (CGT), rental income tax, and stamp duty, depending on your property ownership and usage.
How can property owners minimize tax liability?
By structuring ownership tax-effectively, maximizing deductions, and utilizing depreciation benefits.
What tax deductions can property investors claim?
Common deductions include loan interest, property management fees, maintenance, and depreciation.
Do I have to pay CGT if I sell my home?
Your primary residence is generally CGT-exempt, but investment properties are subject to CGT.
Get in touch with us
Whether you have questions about our services or are ready to take control of your finances, we’re here to help. At Robert Kim and Co, we pride ourselves on providing personalized support and expert guidance to meet your accounting needs.
Contact us today to schedule a consultation or ask any questions you may have about business tax, bookkeeping, property investment. Our team is ready to assist you with clear, straightforward advice to help you achieve your financial goals.
(02) 9874 2366
Suite 2, 14 Ethel St, Eastwood NSW 2122
Send us a message
Get in touch with us
Whether you have questions about our services or are ready to take control of your finances, we’re here to help. At Robert Kim and Co, we pride ourselves on providing personalized support and expert guidance to meet your accounting needs.
Contact us today to schedule a consultation or ask any questions you may have about business tax, bookkeeping and property investment. Our team is ready to assist you with clear, straightforward advice to help you achieve your financial goals.
(02) 9874 2366
Suite 2, 14 Ethel St, Eastwood NSW 2122
Property tax and SMSF specialist | Business accounting, bookkeeping & payroll | Bilingual Korean-English services | Tax planning for families & businesses | Serving clients in Sydney & across Australia for 30+ years
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(02) 9874 2366
Suite 2, 14 Ethel St, Eastwood NSW 2122
Monday - Friday, 9:00 am - 6:00 pm