In this episode we talk tax, tax, tax with Alison Lacey and you are going to love it. Alison is the Director of Ecovis Clark Jacobs a recognised accounting firm in Sydney, but is also an investor and married to a builder giving her a multidimensional insight into property and tax. Today she gives the scoop on recent changes to the CGT exemptions for expats, showcases the nitty grittiness of the ATO and describes the most common tax mistakes the average property purchaser makes. 

Here’s what we covered:
How does tax work with an owner builder?
What is the definition of a non-resident?
Why changes to the CGT rule might backfire for the government?
Knowing your numbers and your opportunity cost.
What is the biggest tax benefit from owning an investment property?
How does depreciation affect your capital gains?
How to offset capital losses against future capital gains
What can you do about land tax?
What is the 6 year rule and how does it work?
How much does the ATO know?
The problems of owning your property outright.
What is repairs and what is maintenance?
How to structure your loan? 

MENTIONED EPISODES:Episode 60 | Mike MortlockEpisode 15 | Taryn Brown

GUEST LINKS:www.clarkjacobs.com.au/

HOST LINKS:Looking for a Sydney Buyers Agent? www.gooddeeds.com.au Work with Veronica: info@gooddeeds.com.au 

Looking for a Mortgage Broker? www.wealthful.com.au Work with Chris: hello@wealthful.com.au

Buy the book - AUCTION READY How to buy property at auction even though you’re scared s#!tless:www.getauctionready.com.au Use the coupon ELEPHANT for your 30% listener discount.

EPISODE TRANSCRIPT: Please note that this has been transcribed by half-human-half-robot, so brace yourself for typos and the odd bit of weirdness…This episode was recorded on 20 February, 2020.

https://www.theelephantintheroom.com.au/podcasts/116

In this episode we talk tax, tax, tax with Alison Lacey and you are going to love it. Alison is the Director of Ecovis Clark Jacobs a recognised accounting firm in Sydney, but is also an investor and married to a builder giving her a multidimensional insight into property and tax. Today she gives the scoop on recent changes to the CGT exemptions for expats, showcases the nitty grittiness of the ATO and describes the most common tax mistakes the average property purchaser makes.  Here’s what we covered: <ul> <li style="font-weight: 400;">How does tax work with an owner builder?</li> <li style="font-weight: 400;">What is the definition of a non-resident?</li> <li style="font-weight: 400;">Why changes to the CGT rule might backfire for the government?</li> <li style="font-weight: 400;">Knowing your numbers and your opportunity cost.</li> <li style="font-weight: 400;">What is the biggest tax benefit from owning an investment property?</li> <li style="font-weight: 400;">How does depreciation affect your capital gains?</li> <li style="font-weight: 400;">How to offset capital losses against future capital gains</li> <li style="font-weight: 400;">What can you do about land tax?</li> <li style="font-weight: 400;">What is the 6 year rule and how does it work?</li> <li style="font-weight: 400;">How much does the ATO know?</li> <li style="font-weight: 400;">The problems of owning your property outright.</li> <li style="font-weight: 400;">What is repairs and what is maintenance?</li> <li style="font-weight: 400;">How to structure your loan? </li> </ul> MENTIONED EPISODES:<a href="https://www.theelephantintheroom.com.au/podcasts/060" target="_blank" rel="noopener">Episode 60 | Mike Mortlock</a><a href="https://www.theelephantintheroom.com.au/podcasts/15" target="_blank" rel="noopener">Episode 15 | Taryn Brown</a> GUEST LINKS:<a href="http://www.clarkjacobs.com.au/" target="_blank" rel="noopener">www.clarkjacobs.com.au/</a> HOST LINKS:Looking for a Sydney Buyers Agent? <a href="http://www.gooddeeds.com.au" target="_blank" rel="noopener">www.gooddeeds.com.au</a> Work with Veronica: info@gooddeeds.com.au  Looking for a Mortgage Broker? <a href="https://www.wealthful.com.au/" target="_blank" rel="noopener">www.wealthful.com.au</a> Work with Chris: <a href="mailto:hello@wealthful.com.au">hello@wealthful.com.au</a> Buy the book - AUCTION READY How to buy property at auction even though you’re scared s#!tless:<a href="http://www.getauctionready.com.au" target="_blank" rel="noopener">www.getauctionready.com.au</a> Use the coupon ELEPHANT for your 30% listener discount. EPISODE TRANSCRIPT: Please note that this has been transcribed by half-human-half-robot, so brace yourself for typos and the odd bit of weirdness…This episode was recorded on 20 February, 2020. <a href="https://www.theelephantintheroom.com.au/podcasts/116" target="_blank" rel="noopener">https://www.theelephantintheroom.com.au/podcasts/116</a>

Who's really in control when you buy a property?

The Elephant In The Room is where the things that no one wants to talk about, actually get talked about.  

Veronica Morgan, real estate agent, buyers agent and co-host of Foxtel’s Location Location Location Australia & Chris Bates, financial planner, mortgage broker and wealth coach have joined forces to find out what’s really going on in the world of real estate.

Veronica and Chris talk to property owners and buyers every day in their respective lines of business. They’ve observed a wide spectrum of confidence in people’s decision making ability when buying and selling property, often to the detriment of the individuals concerned. They are both fascinated by consumer behaviour and together they’re going to uncover who’s really making the decisions when you buy a property.

In each episode they get into the psyche of buyers, agents, auctioneers and other industry experts to learn the truth about how buyers are influenced and why they do the things they do. In every episode you’ll learn from the mistakes of a “property dumbo” as well as Chris & Veronica’s “elephant rider bootcamp” training session.

The plan? This property podcast has been created to help us all make better property decisions!

We talk about the things no one wants to talk about in the Property Market

The Elephant In The Room Property Podcast | Inside Australian Real Estate

Our first tax orientated episode delves into how you could be the envy of your friends knowing the ins and out of the system.

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