Tax planning in property isn’t just a technical detail—it’s a game changer. In this episode, we explore why getting the right advice early can be the difference between wealth creation and costly mistakes. From uncovering myths about negative gearing to breaking down the hidden ways investors lose money, our conversation with Catherine Simons talks about what really matters when it comes to structuring your investments wisely.

We discuss common traps, like rushing into property trusts or ignoring the impact of selling in unfavourable tax years. Catherine shares practical advice on pre-purchase consultations, highlighting why your accountant’s input is crucial long before signing on the dotted line. And for those navigating property inside super funds, she doesn’t hold back on the risks and benefits, making sure you know what to avoid.

This episode is packed with actionable insights on structuring, tax strategies, and long-term planning. So don't miss it! Let's get started.

Episode Highlights:

00:00 - Introduction

00:55 - Who is Catherine Simons?

02:07 - What came first—Catherine's profession or her love of property?

03:34 - Key lessons or myths Catherine has debunked when working with property investors

05:23 - Common ways people can lose money on property investments

07:04 - What are the most common tax rules or misconceptions committed by most people?

10:47 - Deciding the best ownership structure for a property investor (from an accountant)

12:06 - At what point should a property investor engage an accountant?

15:32 - What are some common tax-related mistakes property investors make

22:32 - Common misconceptions people have about negative gearing and positive cash flow

25:26 - What makes a great property asset based on Catherine's client experience

27:52 - Insights Catherine gained from clients engaged in flipping or property development

31:20 - Foundational tax principles evolving, and key trends for 2025 and beyond

34:47 - What’s the impact of tax and super changes on company vs. trust structures?

36;35 - What makes liquidity a common issue when buying property within an SMSF?

44:54 - Where owner-occupiers go wrong with tax when renting out their home short term

48:39 - Catherine Simons’ property dumbo

About Our Guest:

Catherine Simons is the Managing Director of WSC Group, bringing over 19 years of expertise in public practice accounting. Specialising in rental property investment and advising small to medium-sized businesses, Catherine is dedicated to helping clients build wealth and achieve financial growth through strategic business advisory and taxation services. She also oversees continuous improvement initiatives within WSC Group, ensuring operational excellence. A sought-after speaker and expert, Catherine shares insights on key financial topics and enjoys balancing her professional life with family time and personal interests in podcasts focused on finance, pop culture, and health.

Connect with Catherine Simons:

• WSC Group https://wscgroup.com.au/
• LinkedIn https://au.linkedin.com/in/catherine-simons-59766b89

Resources:

• Visit our website https://www.theelephantintheroom.com.au
• If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast [email protected]
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• Work with Veronica: https://www.veronicamorgan.com.au
• Looking for a Mortgage Broker? https://www.flintgroup.au
• Work with Chris: [email protected]

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