How to Prepare for Tax Time with Two Drunk Accountants

In this week's episode, Sam Gordon is joined by Tim and Dan from the popular podcast Two Drunk Accountants to discuss all things tax time for property investors. The boys break down valuable tips on maximising deductions, depreciation schedules, tax planning and more. Whether you're a seasoned investor or just starting, this episode is packed with insights to help you navigate the complexities of property investment taxation and clear, actionable tips to get you ready for tax time now!

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Any information, comments, opinions or content that we provide in this podcast is our general observations and information only and it is not to be taken as, or in any way, considered to be financial advice, accounting advice, superannuation advice or legal advice. We strongly recommend all and any listener and participant to obtain their own independent financial advice, accounting advice, superannuation advice and legal advice before acting in any way in relation to any investment at all including any investment in property such as what we might be discussing in this podcast. No warranty, guarantee or representation is to be taken and you cannot reproduce it in any way. Every persons financial or investment situation is different and you must consider your own circumstances before undertaking any investment and be sure to obtain independent advice.

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Chapters:

(00:00) Welcome

(02:36) Who are The Two Drunk Accountants?

(05:03) ATO cracking down on property investors

(10:06) Maximising deductions

(13:56) Depreciation of renovated vs un-renovated properties  

(18:03) Improvements vs repairs

(22:50) Granny flat depreciation

(25:30) “Only while it has been rented or available to rent”

(33:03) Refinancing and tracking interest

(37:05) The most forgotten about deductions

(45:29) Main deductions on investment properties

(52:35) Advice for tax planning