In this episode we talk tax, tax, tax with Alison Lacey and you are going to love it. Alison is the Director of Ecovis Clark Jacobs a recognised accounting firm in Sydney, but is also an investor and married to a builder giving her a multidimensional insight into property and tax. Today she gives the scoop on recent changes to the CGT exemptions for expats, showcases the nitty grittiness of the ATO and describes the most common tax mistakes the average property purchaser makes. 

Here’s what we covered:

• How does tax work with an owner builder?
• What is the definition of a non-resident?
• Why changes to the CGT rule might backfire for the government?
• Knowing your numbers and your opportunity cost.
• What is the biggest tax benefit from owning an investment property?
• How does depreciation affect your capital gains?
• How to offset capital losses against future capital gains
• What can you do about land tax?
• What is the 6 year rule and how does it work?
• How much does the ATO know?
• The problems of owning your property outright.
• What is repairs and what is maintenance?
• How to structure your loan? 

MENTIONED EPISODES:Episode 60 | Mike MortlockEpisode 15 | Taryn Brown

GUEST LINKS:www.clarkjacobs.com.au/

HOST LINKS:Looking for a Sydney Buyers Agent? www.gooddeeds.com.au Work with Veronica: [email protected] 

Looking for a Mortgage Broker? www.wealthful.com.au Work with Chris: [email protected]

Buy the book - AUCTION READY How to buy property at auction even though you’re scared s#!tless:www.getauctionready.com.au Use the coupon ELEPHANT for your 30% listener discount.

EPISODE TRANSCRIPT: Please note that this has been transcribed by half-human-half-robot, so brace yourself for typos and the odd bit of weirdness…This episode was recorded on 20 February, 2020.

https://www.theelephantintheroom.com.au/podcasts/116

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