Evolution Articles

Renovating Brisbane Property – Character Home

Owning the right investment property can be so rewarding. Not only do you have an income producing asset but you also have an appreciating asset. Knowing which property to buy can be extremely difficult and will vary depending on what your trying to achieve (your strategy). if your renovating, knowing how to renovate your property for profit can be equally challenging. Having an accountant that specialises in property can be invaluable. they can do the numbers, provide you a strategy, set you up a property trust and minimise your tax and more importantly provide you ongoing property accountant tax advice. Your buying strategy will ultimately determine what type of property you should buy. You would not consider buying a renovator if you don't have the cash reserves and you wouldn't buy a waterfront property as an income producer if your loosing $20k per year. 

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Avoid renovation/development in SMSF

SMSF Property Renovators beware!! SMSF Trustees who intend to renovate their Fund’s real estate need to be aware of a few traps in addition to the restrictions surrounding renovations to geared property. Minor work may be ignored though what constitutes minor is unclear. SMSFR 2010/1 para 75-76 describes the scenario of an accountant completing a return for their own Fund without charge. Because of the minor value of the work involved this was not a contravention.

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Brisbane Property Market is set for double digit growth in 2014

The Brisbane property market planted the seeds for growth in 2013 with many of the cities new project started and some completed... these include the the completion of the City Hall, the commencement of construction of the new "River walk" joining New Farm to the city and the tunnel break through of the legacy Way opening up the western suburbs and acreage areas like Kenmore Hills and Brookfield.

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Setting up business in Australia

Starting a business anywhere in the world is big decision. It needs careful research and planning before you start trading. In Australia, it is vital you find out all the necessary statutory obligations before registering the business. Some things may be consider before venturing to a new business.

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Tim Ferris – Author of the 4 hour work week

He is in Brisbane tomorrow cant wait to learn Automate and replicate... less is more (minimise your life maximise your profits)... Evolution Accountants have similar philosophies, its always great to have a fresh perspective and get cutting edge technologies to pass on to our clients.

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