Accountants may recommend property investment to their clients. They may also arrange to set up trusts or make other arrangements for the purchase of property. Accountants, if appropriately qualified under the Financial Services Reform Act 2001 (Commonwealth), may also act in a financial planning role which affects a number of different professions.
Accountants are able to review a number of different options for their clients in relation to taxable income from the property, determine and explain avenues of capital expenditure and verify what items are depreciable. A good accountant with knowledge of investment is one of the most valuable assistants any investor can have. As a property advisor, seeking out these types of accountants would be of great assistance and benefit to your clients.
|What is the difference between capital expenditure and simple improvements on a property?