Ross loves property, and personally invests in residential long term holds, residential subdivisions and development, Commercial property trading, Commercial property long term holds and in the past did residential property trading. As Ross is constantly active in the market, living and breathing property every day, he is up to date with all the tricks and tips, plus understand property risk and returns through actually doing subdivisions and developments himself.
Ross can put a different twist to some ownership and development structures that can save thousands in tax long term, and loves reviewing and improving ownership structures. Ross starting Coombe Smith Property Accountants at 24, and now almost 20 years later is doing less of the day to day accounting to focus on high level property advise and ownership structure improvements.
Neither Lifetime nor I have been subject to a reliability event. A reliability event is something that might influence you in deciding whether to seek advice from either myself or Lifetime. As an example, this would be a serious event such as legal proceedings against me, or bankruptcy in the last four years.
Opportunity Following Election
As soon as we talk election or a new Government, I think of opportunity. The key thing is to wait until the new legislation is finalised. This won’t be for some months, but, we have a great opportunity to plan for the next few months and potentially make changes around the start of the new financial year.
What Is Interest Limitation?
When you invest in a new build or acquire another property that qualifies for specific exemptions, such as social housing developments, certain subdivision initiatives, or transforming a single house into two separate units, you unlock a significant financial advantage. This advantage lies in the ability to leverage a 100% interest deduction as part of your tax strategy. This deduction serves as a powerful tool for optimising your financial position by substantially reducing your taxable profits and consequently, your overall tax liability.