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 questions@theelephantintheroom.com.au
Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
Work with Veronica: https://www.veronicamorgan.com.au
Looking for a Mortgage Broker? https://www.flintgroup.au
Work with Chris: chrisbates@flintgroup.au

Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!
Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast
Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765

Tax planning in property isn&rsquo;t just a technical detail&mdash;it&rsquo;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&rsquo;s input is crucial long before signing on the dotted line. And for those navigating property inside super funds, she doesn&rsquo;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&mdash;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&rsquo;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&rsquo; 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:
<ul>
<li aria-level="1">WSC Group <a href="https://wscgroup.com.au/">https://wscgroup.com.au/</a></li>
<li aria-level="1">LinkedIn <a href="https://au.linkedin.com/in/catherine-simons-59766b89">https://au.linkedin.com/in/catherine-simons-59766b89</a></li>
</ul>
Resources:
<ul>
<li aria-level="1">Visit our website <a href="https://www.theelephantintheroom.com.au">https://www.theelephantintheroom.com.au</a></li>
<li aria-level="1">If you have any questions or would like to be featured on our show, contact us at:&nbsp;The Elephant in the Room Property Podcast <a href="mailto:questions@theelephantintheroom.com.au">questions@theelephantintheroom.com.au</a></li>
<li aria-level="1">Looking for a Sydney Buyers Agent? <a href="http://www.gooddeeds.com.au/">https://www.gooddeeds.com.au</a></li>
<li aria-level="1">Work with Veronica: <a href="http://www.veronicamorgan.com.au">https://www.veronicamorgan.com.au</a></li>
<li aria-level="1">Looking for a Mortgage Broker? <a href="https://www.flintgroup.au">https://www.flintgroup.au</a></li>
<li aria-level="1">Work with Chris: <a href="mailto:chrisbates@flintgroup.au">chrisbates@flintgroup.au</a></li>
</ul>
Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!
<ul>
<li aria-level="1">Subscribe on YouTube: <a href="https://www.youtube.com/@theelephantintheroom-podcast">https://www.youtube.com/@theelephantintheroom-podcast</a></li>
<li aria-level="1">Subscribe on Apple Podcasts: <a href="https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719">https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719</a></li>
<li aria-level="1">Subscribe on Spotify:&nbsp;<a href="https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765">https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765</a></li>
</ul>

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

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