Just a quick update for you all, the tax office have sent us some information about their processing times for getting your refunds (and tax bills!) and things are looking mostly ok this year.
Archive for the ‘house news’ Category
Tax office update
Friday, August 27th, 2010Tax Office Update
Wednesday, July 28th, 2010
After every financial year the ATO update their software, mainly to take account of any changes to the tax laws for the previous year. After the new software has been installed it has to be tested and verified and during this time only a small amount of returns are processed. You might remember when they did a complete overhaul earlier this year. Gosh, what a mess. Things seem to be going a little smoother now though.
Tax Office Spam & Scams
Monday, July 26th, 2010
I wrote an article about this time last year (yep, we’ve been doing this blog thing for over a year now!!) about an email doing the rounds, seemingly from the tax office, asking for bank account details. If you missed it at the time, you can get a quick recap now.
One Week Left!
Wednesday, June 23rd, 2010Hiya Guys!
We’re saying goodbye to last financial year, and hello to the new financial year in just one week now! Gosh that’s gone fast! So with one week left, we are now more than happy to start booking in appointments for your 2010 return. The easiest way to do that is to either give me a call on 03 9486 3001 or email me through our contact page.
Tax Planning 101 – Accounting Fees
Monday, May 31st, 2010Ok, so this one might be a little cheeky. But hey, can’t hurt to mention it anyway as it really does benefit you, dear reader.
The key concept with prepaying expenses is to bring forward things that you know that you’ll have to buy sooner or later anyway. Get them inside of this financial year and you get to claim the tax benefit back almost straight away instead of waiting until over a year later. We discussed this recently in reference to prepaying interest; it’s a good system, hey?
The same principle can apply with accounting fees. You know that it’s gonna happen soon enough, so by taking us up on this offer… you get a tax benefit, and you give me a tax problem! ;-)
Existing clients will also get the existing rates, instead of the slightly-increasing rates that will come into play from July onwards, which makes for a discount on offer, as well. I know that you all love a discount.
So! With just a slight hint of mischievousness, we’ll leave you with that one to think about. And if you’re interested, feel free to drop either myself or Dannielle a line and we’ll get something hooked up for you.
Free residex reports
Monday, April 12th, 2010Our good friends at Verix Finance recently sent a few bits and pieces to us, as part of their thanks for our presentation at their March seminar on using the tax system to your advantage. Amongst this, there was a good handful of vouchers for a free Residex Comparative Market Property Report. Rather than use them all ourselves, we thought that it might be a better idea to offer these to our clients and readers of our blog.
These reports can help you assess the value of a particular property and include previous sale prices along with suburb demographics and property trends in the area.
If you’d like us to send one of these vouchers out to you (for use on any property that you like), please either comment below or email Dannielle, and we’ll get you hooked up quickly.
Bye the way, the next Verix seminar is on this week! The topic is all about negotiation tactics and James will be along to help answer any accounting or investment questions that you might have, as well. Our readers can get a special discount by using the code HOW when ordering your tickets. See you there!
Seminar discounts for our readers
Friday, March 5th, 2010Hey! We wanted to let you all know about a couple of seminars coming up that we’re going to be involved in.
On the 17th March, Verix – March Property Investing Event – Tax Strategies. James will be speaking about tax strategies for investors with topics like capitalising interest, creative tax deductions, and different ownership structures. We’ve also negotiated a discount for our blog readers, so please email me directly if you’re interested.
Also, there is the Renovate & Profit Workshop on the 27th March, where you can learn about using renovation as a wealth creation tool, how you can get Real-Estate agents and tradies working for you and so much more. There will be a variety of speakers for different topics, and it certainly isn’t all about us. Again, we’ve organised a 20% discount on this event for our readers and fans of our facebook page, so just shout if you’d like the promotion code for this one.
Looking for real estate agents
Monday, March 1st, 2010Just a quick one today.
We’ve recently launched a new range of services, specifically designed for proactive real estate agents. We’re pretty excited about the potential here and would love your help in spreading the word. As investors, we’re all working with agents on a regular basis and we’ve got a few ideas on how they could do things better.
So, if you know a great real estate agent, or if you’re dealing with a brilliant property manager, we’d love to know about it. Drop me a line, or, feel free to pass on our details, and we’ll see what we can get happening to create a win / win scenario for everyone involved.
Thanks!!
The sharemarket game is back!
Friday, February 26th, 2010Yep, the House of Wealth Share Trading Game is back. Yay! It will be commencing on Thursday the 11th of March, just after the long weekend. So come on guys, take the challenge and play against us and other clients, there is a prize for the winner!
If you’re interested in participating please email me here and I’ll give you the Rules and Registration handout to get you started. It’s great fun and helps build your share trading skills. Last time, our very own Dave won with a total networth of $25,243, a great effort after starting the game with $20,000, over 25% return in just ten weeks.
The average score for all players was about $22,000 – making an annualised return of 64% across the board. Think you can do better than that? Or you’re really not sure, but think it could be fun to try? Come and play – you know you want to!
e-Record is finally going!
Friday, February 5th, 2010The Tax Office’s record-keeping product, e-Record, has been reviewed… and trashed. So it will no longer be available from the 2010-11 income year. The tax office decided that it no longer was well-suited with the current commercial record-keeping systems (no surprise) and would also have needed to be redeveloped so it can keep up with technology and new business directions. The cost was too much to bear, so the tax office will remove it for download as of 30th June.
In other news. We’ve recently teamed up with the group at the Educated Investor book store, which we believe is the best of its kind in Australia. You might have already seen the little link on the sidebar to your right there. Joining their mailing list also gives you regular discounts on their products, so it might be worth looking at, too. Soon, we’re hoping to have this site branded similar to our own and to be able to offer you exclusive promotional codes – so check it out and stay tuned.