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Have you ever wondered how your business performs compared to your competitors? Are you spending enough on advertising? Are you paying too much rent? Are your staff costs too high? What is the average bottom line of your competitors?
Survival in today’s business climate requires you to spend more time working on your business rather than in the business.
We can provide you with accurate, timely and informative benchmarking reports – allowing you to:
Armed with this information, we’ll work with you to develop action strategies to improve your bottom line.
Contact us now to let the team at Griffin Hancock & Moffitt provide you with your Benchmarking Report and show you how to develop action strategies for your business.
Buying a Rental Property / Negative Gearing
Negative Gearing - What is it?
“Negative Gearing” is where an investor borrows to purchase a rental property and the rental earned from the property is less than the interest on borrowings to purchase the property plus other property expenses. The investor therefore incurs a “loss” from the rental property.
This “loss” is able to be offset against the investors other taxable income and you can obtain a tax benefit of up to your marginal rate of tax. For example a loss of $10,000 would give a tax benefit of $4,825.
How does it work?
The whole concept of negative gearing hinges on your ability to make a capital gain when the property is one day sold. Each property decision should be analysed on the following basis:
Taxable Income from Real Property
Deductions - Involving Cash:
Repairs and Maintenance
Other costs incurred in gaining the rental income
Deductions – Not Involving Cash:
Once you have the above information, cash flow projections should be made. Let us help you make the correct decision.
Click here to see a sample of a Rental Property Analysis.
What determines whether a property will appreciate in value?
The single most important factor which determines whether a property will appreciate in value is whether you have made a good buy.
This means fully researching the market you are going to invest in so that you can make an informed decision. The more hard work done at this stage, the better your chances of investment success.
The supply of and demand for property in the market will also influence potential capital appreciation. The recent published Residential Rental Vacancy Rates have shown the demand for rental property in the local market is still relatively high, but is weakening.
Inflation also has an impact on the likely future value of an investment property. In the current low inflation environment it is likely that the returns will not be as high as in the past. However “real returns” after eliminating the inflationary effect should be consistent with those achieved in the past.
The Purchasing Decision
In whose name should you buy the Property?
The purchasing of the property in the right name is vital if gearing is to work effectively for you. Each individual situation needs to be considered to make the decision in whose name to put the purchase contract and loan documents.
Which property to purchase?
Four principal types of property include:
In assessing which area you would invest, the following should be considered:
Finance – What should I look for?
When looking for a loan the lowest interest rate should not be your sole concern. Find out the total bank fee which will be charged in setting up the loan. Weigh those costs up with interest rates offered.
You have an option of paying interest only on a loan or principal and interest. Depending on your individual situation either option may be desirable.
Capital Gains Tax
Capital Gains will apply to all properties purchased after the 20th September 1985. It is important the cost of the property is accurately recorded at the date of purchase. The cost base of the property will include:
Purchase Price + Stamp Duty + Legals
The total of the above cost will be indexed for inflation when the property is eventually sold.
What records should I keep?
It is important accurate records are kept as the Tax Office may at sometime conduct an audit on your records. See our Helpful Tools, for our Rental Property Information Sheet to help you records your details.
Contact us now to let the team at Griffin Hancock & Moffitt provide you with the best advice on purchasing rental property.
At Griffin Hancock & Moffitt we have the necessary expertise to assist in a variety of areas in relation to residential and commercial property.
The services we offer our clients include:
The importance of forecasts in making a residential investment cannot be emphasised enough. We are able to provide for you:
Contact us now to let the team at Griffin Hancock & Moffitt provide you with more information on how we are able to assist you in the business of rental properties.
The Better Investment : Property or Shares
We often get asked whether it is better to invest in property or shares because the perception is that shares provide the ability to receive franked dividends and enjoy capital growth while property often produces a better after-tax return than the stock market. The answer always depends on your personal circumstances, your personal goals and the individual property or shares involved. That aside, there are some general observations we can make in regards to the above question purely from a tax perspective.
From a tax viewpoint, if all things were equal, that is, if the return from shares and property were the same, an investment in shares will produce a better tax result than an investment in property.
An investment in property typically only generates moderate tax benefits in the form of depreciation deductions which are usually greatest in the short term and diminish rapidly over time. The franking credits, which represent the payment of tax by the company, which are commonly attached to the dividends paid by companies, can be used by the shareholder to reduce tax payable. The tax benefits from receiving franked dividends generally exceed the tax benefits available from a property investment in the medium and long term.
Mary has a share portfolio worth $400,000 that annually generates a fully franked dividend of $30,000. Attached to the dividend are franking credits of $12,857. Mary also earns a salary of $135,000. The tax result for Mary in the 2009-10 year would be as follows:
Had Mary purchased an apartment for $400,000 yielding $30,000 in net rent and $12,857 in depreciation deductions, her tax result would be as follows:
By investing in shares Mary has saved $2700 in tax, as the franking credits have directly reduced the amount of her tax liability. For the purposes of illustrating the tax advantages of investing in shares, the pre-tax yield in both examples have been kept the same.
Contact us now to let the team at Griffin Hancock & Moffitt provide you with the best advice on the right investment for you.
Business Fitness Reviews
Would you like to know the impact of every business decision before you make it?
Is your business not returning you what it should? Want to know how your business compares to industry averages?
Have you given your business a health check lately? Looking for ways to improve your cash flow or your bottom line profits?
Thinking about obtaining finance and want to know if you will be successful before wasting time with lengthy and costly applications?
If you have answered YES to any of these questions, then you should definitely read on to find out more about our exclusive Business Fitness & Tax Review services.
What is a Business Fitness & Tax Planning Review?
Our Business Fitness & Tax Reviews are essentially a ‘health check’ of your current and future financial positions. It allows us to diagnose your business and offer recommendations and solutions to potential tax problems, cash flow and profit issues, whilst maintaining a focus on the overall improvement in financial performance.
At Griffin Hancock & Moffitt we use an easy to understand, financial modelling software program to provide a critical financial analysis of your business. Recently, the major banks adopted this very same software for the specific purpose of processing and approving business finance applications.
Aside from assisting in identifying a businesses ability to meet the banks “hidden criteria” for finance applications, it has been proven to be most beneficial in predicting possible tax liabilities before the end of a financial year. Even where there hasn’t been a tax problem, this service has been invaluable in graphically identifying the key drivers within a business that can assist in turning a loss making or average turnover business, into an extremely profitable one.
I want one, so how do I arrange for an appointment?
Please telephone our Office on 07 4926 0122 and arrange for one of our advisers to contact you. We guarantee to identify any weaknesses in your business, help you fix them, and then also show you how to make its strengths stronger.
Your business is a dynamic organization and everyone should live and breathe the vision as embodied in your strategic business plan. The plan should guide you when major decisions are required. Yet we are surprised at how few businesses invest sufficient time on these vital aspects of management. For your strategy to succeed, it is vital that everyone who needs to know about it is informed. You should ensure that everyone understands the purpose and direction of the business and what their individual and collective roles are in making it happen. Ideally, this should be linked to some form of regular monitoring to ensure those roles are being fulfilled. After all, if everyone does everything they are required to do under the plan, the business will achieve all its goals.
Contact us now to let the team at Griffin Hancock & Moffitt help you with your Business Plans.
An independent valuation provides you with answers to the questions you often need to ask about the value of a business or property. Am I getting the best price for the sale of my business? Is the asking price too much?
We are trained and experienced in business valuations and are able to provide you with simple guidelines and formulae for evaluating the worth of a business.
Choose Griffin Hancock & Moffitt for a professional and accurate business valuation service.
Contact us now to let the team at Griffin Hancock & Moffitt help you with Business Valuations.