PipKit

The BAN TACS Property Investment Pre-Purchase Due Diligence Service  $495 Fully Tax Deductible

BAN TACS National Accountants Group is big enough to have an expert in every field. Independently owned offices provide personal care and individual attention. Our mission is to provide high end individual advice to every day taxpayers.

When purchasing a rental property it is important to discuss the purchase with your Accountant. Just as you would get a building and pest report you should have your accountant look over the figures and discuss your particular circumstances. In fact our fully tax deductible fee is probably less than what you would pay for a building inspection.

We can answer your questions and give you the reassurance of knowing that all the tax implications of this major purchase have been considered at a cost of probably only one tenth of one percent of the money you are about to invest.

How could you possibly consider going ahead with a property purchase without doing your BAN TACS pre-purchase due diligence?

Your Fee Includes:

  • Discussing your particular circumstances and goals.
  • Consideration of your personal tax strategy.
  • Review of your reasons for choosing that type of property in that particular area
  • Identifying any GST, Margin Scheme or Going Concern clauses in your contract and liaison with your solicitor.
  • A listing of similar properties recently sold in the area to help you decide if the price is right and assist in your negotiations.
  • A listing of similar rentals in the area to assist in forecasting the property’s cash flow.
  • An estimation of the depreciation deductions you may be entitled to. Note a formal quantity surveyors report will be necessary before a tax deduction can be claimed.
  • Discuss who the owner of the property should be. This does not include the costs associated with setting up an entity if necessary.
  • Calculate the after tax cash flow from the property and if this is negative determine the breakeven point.
  • Explain what records you need to keep for both your annual tax return and CGT on the sale.
  • Consideration, from a tax perspective how best to set up your loan and explain how to keep your interest tax deductible,
  • Assessment of whether you qualify to use a Quantity Surveyor’s report.
  • Consideration of the benefits of an Income Tax Instalment Variation (getting your tax refund back in your pay packet during the year).
  • Free 10 minute follow-up Phone call

Your fee will also include a complete information toolkit to set you up as an effective property investor.

This toolkit includes:

  • A copy of Julia Hartman and Noel Whittaker’s book Winning Property Tax Strategies.
  • A USB containing spread sheets to help you keep the records you need and evaluate other rental properties
  • A valuation report and rental appraisal on the property.
  • An after tax cash flow calculation.
  • Booklets on Owning a rental property and the buying process.
  • Checklists
  • Special Offers achieved through the BAN TACS brand buying power.

Frequently Asked Questions

Q. At what stage should you see us?
A. Definitely before you sign anything but make sure you have a copy of the contract.

Q. What should you bring?
A. When you ring our office to make an appointment we will email you a checklist.

Q. What if I decide not to buy that property?
A. The consultation has definitely been money well spent. With your next property we will just charge an hourly rate as much of the ground will already have been covered. The kit will also provide you with help in selecting your next property.

Q. Do you recommend or sell properties?
A. No, this is an independent professional service to protect you from the spruikers.

Q. What if I don’t need all the services offered in this kit?
A. We recognise that experienced property investors don’t need everything offered here.  Please feel free to contact your local BAN TACS office to discuss a service that fits your needs.