Join Frank as he interviews George Mitsas from Raft Private, an expert in tax structuring and asset protection. In this insightful discussion, George shares valuable insights into different tax structures for property investment, covering individual, trust, and company setups. Emphasizing the importance of early planning and considerations such as income levels and asset protection, George provides practical advice based on his expertise and personal experiences. This episode also delves into partnerships, trusts, and companies, addressing complexities and offering a cautionary note on Self-Managed Superannuation Funds (SMSFs).
In this podcast, George Mitsas, an accountant specializing in tax structuring and asset protection, shares comprehensive insights into strategic tax structures for property investment, discussing individual, trust, and company setups, emphasizing early planning, and addressing the complexities involved in structuring investments for an effective exit strategy, while highlighting the significance of long-term planning and the potential benefits of self-managed super funds (SMSFs) for tax efficiency. The conversation also covers upcoming changes in tax rates, collaborative property purchases through SMSFs, and the impact of land tax on trusts, concluding with a stress on the broader perspective of wealth generation in investment decisions.
(02:11 - 02:53) George decision in becoming an accountant
(02:55 - 06:35) George’s Journey in Investing
(06:57 - 12:02) Company Structure
(12:19 - 15:52) Consideration of Land Tax Implications
(16:20 - 18:22) Purchasing Property with Others, Different structures and Fixed trust
(18:28 - 20:31) Partnership and trust
(21:47 - 24:13) Challenges of business owners in investing to trust
(24:16 - 29:58) Capital gains and Negative gearing
(30:00 - 34:20) Self-Managed Super Funds (SMSF) and Tax Benefits
(34:32 - 36:59) Importance of Professional Advice for Tax and Business Structuring
(37:05 - 40:30) Land Tax Thresholds
(40:50 - 42:45) Investment decisions
"If you're paying tax, it means you're making money."
"I really wish to leverage myself in a different way. However, it was a great learning experience."
"The most important thing as well to consider when you're choosing what tax structure with your accountant is your exit clause."
"It gets a little bit technical. If you've got negative gearing, that's where you can really benefit."
🌐 Website : https://www.raftprivate.com.au/
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