Welcome to the second part of our two-part series with Stuart Wemyss on how to minimise your taxes over the 3 phases of a property investment.

 

Today, we continue our discussion from last week and some of the highlights include

• All about capital gains tax,
• Uses of trusts and structures,
• Finding good tax advisors based on your financial capacity,
• And much more!

So stick with us ‘cause we’ve got lots to cover. Have a pen and paper ready for valuable takeaways that’ll really prove to be useful!

Resource Links:

• Prosolution Private Clients - Stuart Wemyss (https://www.prosolution.com.au/)
• Join the Perth Property Investment Facebook Group (https://www.facebook.com/groups/perthpropertyinvestors)

• Join Jarrad Mahon’s Property Investor Update (https://www.investorsedge.com.au/join)
• 1 on 1 strategy session with Jarrad Mahon (https://www.investorsedge.com.au/strategy)
• For more info on our award-winning and highly rated Property Management services that give you guaranteed peace of mind (https://www.investorsedge.com.au/perth-property-management-specialists/)
• For more info on how our Property Sales services can ensure you get the best selling price while handling all the stress for you (https://www.investorsedge.com.au/selling-your-perth-property/)
• Get Jarrad’s strategic advice towards your property purchase and development plans (https://www.investorsedge.com.au/invest-in-perth-property/)

Episode Highlights:

1. Introduction [0:00]
2. About capital gains tax [1:08]
3. Stuart’s advice to investors who are concerned about paying lots for capital gains tax [1:25]
4. Uses of trusts and structures + the benefits of buying property in a trust or a company [7:39]
1. Advantage of putting property into a trust [8:09]
2. Reasons why you shouldn’t use the trust [8:58]
5. Having a positive cashflow property does not necessarily mean positive from a taxation perspective [10:02]
6. Stuart’s advice on finding tax advisors for specific concerns [12:52]
7. Don’t judge an accountant’s service based on their price [16:38]
8. The challenge in finding good accountants when you’re a beginner [20:31]
9. Finding good accountants for beginners (both companies & individuals) [21:29]
10. What Stuart does and how he can help you [23:57]

 

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.

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