Maximising Property Investment Returns with Tony Lee of Lee & Lee Accountants

[00:00:00] [SPEAKER_00]: As investors and developers, we see the world differently.

[00:00:04] [SPEAKER_00]: This podcast uncovers the untold truths of what it really takes to become a multi-million dollar residential developer.

[00:00:14] [SPEAKER_00]: On Nathan Battishall, let's get to work.

[00:00:18] [SPEAKER_00]: Welcome to another episode of the Residential Developer Podcast.

[00:00:22] [SPEAKER_00]: I'm the host of the show. My name is Nathan Battishall.

[00:00:25] [SPEAKER_00]: I'm really privileged today to have a special guest all the way from Brisbane.

[00:00:29] [SPEAKER_00]: They also have an office in Sydney, but it's an honour and a privilege to have Tony Lee from Lee & Lee Accountants with us today.

[00:00:37] [SPEAKER_00]: Now Tony is an absolute specialist when it comes to investment development, working with developers and investors,

[00:00:45] [SPEAKER_00]: especially doing long-term hold projects and also working with your self-managed super fund.

[00:00:51] [SPEAKER_00]: So we're going to do something a little bit different today in this session rather than a Q&A.

[00:00:55] [SPEAKER_00]: Tony Lee is going to jump across to Tony. He's got an incredible presentation that is perfect for anyone doing projects

[00:01:03] [SPEAKER_00]: and wanting to generate long-term wealth and build a lifestyle through wealth.

[00:01:10] [SPEAKER_00]: This is an incredible presentation.

[00:01:14] [SPEAKER_00]: So I'm going to hand over to Tony. He's going to run you through this presentation.

[00:01:19] [SPEAKER_00]: I encourage you to have a pen, take notes. It's interactive.

[00:01:24] [SPEAKER_00]: Obviously this is a very visual presentation.

[00:01:28] [SPEAKER_00]: So if you are listening on Spotify or Apple,

[00:01:32] [SPEAKER_00]: I encourage you at some stage jump across onto our YouTube channel as well

[00:01:36] [SPEAKER_00]: where you can physically watch this presentation because the slides that Tony is going to present are very interactive and incredible.

[00:01:42] [SPEAKER_00]: So I'm going to hand over to Tony. Maybe just tell us a little bit about yourself, your background, your company

[00:01:48] [SPEAKER_00]: and how you help investors and developers.

[00:01:51] [SPEAKER_01]: Yes, thanks very much, Nathan. I'm super excited to jump on this special forecast

[00:01:56] [SPEAKER_01]: and be a special guest speaker to you guys.

[00:01:59] [SPEAKER_01]: Yeah, Lee and Lee. So who are we? We are actually an accountant, right?

[00:02:03] [SPEAKER_01]: Please don't hold that against us. We're not your typical accountants.

[00:02:07] [SPEAKER_01]: So we are actually, as you mentioned before, we are actually property tax expert,

[00:02:13] [SPEAKER_01]: business strategist and SMSF specialist.

[00:02:16] [SPEAKER_01]: So yeah, look, so as an accountant, we actually really passionate about helping property investors,

[00:02:22] [SPEAKER_01]: property developer, small business owner to first and foremost to build their wealth

[00:02:26] [SPEAKER_01]: but also protecting the asset, the hard-earned money that they actually built through obviously property, property investing

[00:02:32] [SPEAKER_01]: and at the same time, you know, having a good fund out of it and minimizing tax and keep the ATL happy or out of fear from you.

[00:02:40] [SPEAKER_01]: So basically, I guess as an accountant over the last 20 years, the first thing that we'll do is just any prospective client coming to see us.

[00:02:49] [SPEAKER_01]: We actually do what we call honest conversations or a free review just to give you a second opinion about where you are now,

[00:02:56] [SPEAKER_01]: where you're going, have you got the right structure? Are you paying way too much tax?

[00:02:59] [SPEAKER_01]: And here's the thing, Nathan. Most often the first thing that we do in terms of conducting a second review is that we found that

[00:03:08] [SPEAKER_01]: over all nine out of 10 that we've seen it either applying got an incorrect structure or why pay way too much tax.

[00:03:15] [SPEAKER_01]: As you always probably mentioned before, either they got an incorrect structure or alternatively they're paying way too much tax.

[00:03:21] [SPEAKER_01]: So as an accountant, you know, we just super passionate about helping our client and investors, particularly in property investing and development to structure correctly so that you can actually keep a lot more of what you're creating into the future for your financial retirement.

[00:03:36] [SPEAKER_00]: Brilliant. Love it.

[00:03:39] [SPEAKER_01]: So I'm going to probably jump on the screen now. And as you mentioned, I probably this this time's a little bit slightly different to other sort of a Q&A.

[00:03:49] [SPEAKER_01]: I'm gonna probably be a little bit nice to you guys as well and the viewer and the listener as well. I might just share with your permission if you don't mind a little bit of my own personal investing and development story,

[00:04:01] [SPEAKER_01]: but I'm also gonna share with you guys a little bit about, you know, how to structure your property investing property development to minimize tax, but also maximize a profit.

[00:04:12] [SPEAKER_01]: But I'm going to share with you my own personal approach where I use my own strategy and structuring. I'm very similar to some of my client doing it as well in terms of helping you to be more confident.

[00:04:24] [SPEAKER_01]: What's important is I'm going to share with you also and the audience in terms of the most important and the right questions, but the smart question that you should be asking to your accountant before you even embarking property investing property development.

[00:04:39] [SPEAKER_01]: So look at the other day, if you follow this, if you follow this, you have a great ability to minimize tax, but also much more opportunity to achieve the successful outcome.

[00:04:49] [SPEAKER_01]: Okay, so I'm gonna just probably jump on share screen at the moment and begin a bit of sharing with you guys. Okay.

[00:04:57] [SPEAKER_01]: Okay, I'm going to just start really really quickly. As I said, tonight we're just going to probably be focused on sharing with you guys the actual structure approach to actually property investing in development.

[00:05:10] [SPEAKER_01]: So ultimately, we can either maximize your wealth or minimize your tax. One of the things that I'm passionate about that I want to share with you guys is some of the fear often clients coming to see me and investors.

[00:05:23] [SPEAKER_01]: What do they fear of and really sometimes what they're fearing is actually not making enough money or no cash flow in the investing or internally they investing in property development.

[00:05:33] [SPEAKER_01]: There's the fear or maybe getting ATO audited because either they don't get a right tax advice or taxes not being accounted for such as GST. We're going to talk a little bit about GST and taxes and definitely property right.

[00:05:45] [SPEAKER_01]: The other thing that I am hearing for a lot of the investors and the viewer that coming to see us also in is that sometime I prospective client or even our existing client.

[00:05:57] [SPEAKER_01]: One of the things that they are really really frustrated about I think we talked about that before is that they fear about actually getting the wrong structuring and the wrong structuring really just meant that getting the wrong structure can be really confusing

[00:06:11] [SPEAKER_01]: right because a lot of the time a lot of people hold back in terms of buying in the name in a company or in a trust name just not sure it is the right structure particularly you know focusing on the outcome and the current situation.

[00:06:25] [SPEAKER_01]: So those are one of the things that finds often worry about is getting the wrong structure. Now, if you actually getting the wrong structure if this happened people often worry about, you know, a file of building their property portfolio whereby sometime you could be stuck with the cash flow or actually unable to get more

[00:06:42] [SPEAKER_01]: finance because of the way that you're structuring your ownership alternatively just continue grow your portfolio in terms of retirement. Okay, so those are two probably some of the basic structure.

[00:06:53] [SPEAKER_01]: So, first, I just that that we come across as well. Now, the other things that I want to do. I mentioned to you earlier on is to ask really really super smart questions about when you actually invest in a nice share with your build a story that you mentioned about how I prospective investors coming in either

[00:07:13] [SPEAKER_01]: to be a developer investor, they often go and see an accountant and I want to make sure that if they got the right structure or what is the best structure. So today I am actually going to be a little bit unsort of advising.

[00:07:25] [SPEAKER_01]: So I'm not going to tell you what is the best structure for the viewer or the listener. But however, what I want to do is talk about what are the options of my investments or development structure available such as individual company or trust name or even SMSM or what are the tax implication on each structure.

[00:07:42] [SPEAKER_01]: Okay, so some of the smart questions that I guess the viewer and also I'm helping and educating some of my clients are actually teaching them in terms of asking a smart questions.

[00:07:53] [SPEAKER_01]: I first of all most is that the you want to you want to sort of basically ask a smart question, particularly as a property investors and developer. One of the things that you could look at is that you might want to ask a question particularly when you can see an accountant or even come into see us is that

[00:08:08] [SPEAKER_01]: the first question I actually asked is that I want to know that if you are going to enter into a property investing and development, what you want to know is that you want to know what is what is the actual

[00:08:20] [SPEAKER_01]: ultimate intention and why are you doing what you got to doing right are you actually investing or are you actually developing. So make a big distinctions between investing in long term holding or development where you have a short short time span.

[00:08:34] [SPEAKER_01]: Okay, so that's the first question you want to be asking what are what are the intention. If you are investing so any good accountant or advisor will probably want to know firstly, what is your intention and are you investing in a short term or you on a long term or you actually developing

[00:08:49] [SPEAKER_01]: Okay, so that's a very, very first question I probably usually tend to ask my prospective client. Now the second question I will I will proceed to ask my client in an interview or in an actual initial discovery meeting would be you know how is it that you intend to get out on the deal

[00:09:07] [SPEAKER_01]: on a project. Yeah, we are on the same page. So first question is what's what's really your intention but second one is once you get into the project or the investing, how do you intend to get out so as an investor, you probably want to hold it long term.

[00:09:20] [SPEAKER_01]: That means you might want to think about the cash flow and capital gain tax in the future when you eventually sell it. Or internally, if you are a developer, you kind of think about the opportunity where or not are you actually going to sell some or keep some or sell all or keep all.

[00:09:35] [SPEAKER_01]: So those are important. Second question should be asking, what is your intention, particularly with in relation to the exit strategy. Okay, now the third question, which is the most important question that why we having this discussion tonight is what what entity do you intend to purchase the

[00:09:53] [SPEAKER_01]: property in right when I mentioned entity, I mean ownership structure, particularly in Australia. Are you intend to buy in individual name as a soul as a so individual husband and wife or you intend to buy in a company, or a trust structure

[00:10:07] [SPEAKER_01]: or a company or trust structure. So I'm going to sort of dive in a little bit, not too much on on what are the the the available options of when you come to buy property investing and development, either in individual name or company or trust so those are the three

[00:10:20] [SPEAKER_01]: probably most important question now the final probably most most important question which I find either investor or I develop often sort of a missed or kind of leave it to the last minute.

[00:10:32] [SPEAKER_01]: Is the actual is questions that you need to think about when I finally completed my project or buying and selling or investing in development. How is the actual end post see the money is going to come out of the ownership entity being either individual name in a company name

[00:10:48] [SPEAKER_01]: or in a trust name. So we decide that we have an intention whether we buy or investing on developing within basically decide that when we do eventually get out either as a as a selling as a long term capital gain, or we sell it

[00:11:01] [SPEAKER_01]: immediately as a property development for project conclusion, alternatively we then look at and say well if we decided to buy in a particular ownership structure entity name company trust or individual, how is the money going to come out

[00:11:13] [SPEAKER_01]: because it might be different to considering that how does the money come out, because that's the point where you got to consider the tax implication. Okay, so those are the four most important questions that we definitely need to ask. Okay, now we're going to circle back in those questions are

[00:11:29] [SPEAKER_01]: going to actually use some of those questions to, I guess, share with you in cooperation with the my own story my own development so that you can actually see that every question says has been calibrated as being considered and so then we also understand the actual

[00:11:46] [SPEAKER_01]: outcome and the actual result now to it okay so usually when I see a client particularly a prospective client coming into see me we want to know exactly where is probably fair to find out get to know the client I was really important to the client.

[00:12:01] [SPEAKER_01]: All right, what do they want? What did I want out of the meeting? What are the goals? What are they trying to achieve? And what is really, I guess important to you as a client. So we look at like where you are now today and where you want to go and what do you

[00:12:14] [SPEAKER_01]: actually have financially, like how much money you might what equity do you have? What are your service ability? Have you got money in super or particularly for retirement. So when you look at that, you want to know exactly where you are today.

[00:12:25] [SPEAKER_01]: And most importantly also, Nathan, we need to know also as our advisor exactly also where is their client heading like where they're going. Right. So if you look at this particular gap in future we're talking about if you're 45 today, where would you like to be in the next 1020 years.

[00:12:41] [SPEAKER_01]: Now the reason I do drifting is that if you got no plan, you're filed to plan, you know, time flying really quick right. So in the next 1020 years you'll be drifting away. You'll be looking at from a crisis or area where you cannot fund your own self funded retirement right but if you have an action and you

[00:13:11] [SPEAKER_01]: have a plan, you've got to plan. All right. So that's what we're talking about if you plan for the future, you need to know how much money do I need in the future in order to create the passive income that I need for my tomorrow retirement. Okay.

[00:13:22] [SPEAKER_01]: So first thing that we're going to look at is that we're talking about strategy right straight is so important. One of the pillar that we always focusing on the first and foremost is strategy, what sort of strategy do you actually use a vehicle to achieve from a to B from where you are today to

[00:13:39] [SPEAKER_01]: where you want to go so you can achieve that financial freedom. So strategy we're talking about are you buying property renovating, you know, building a geoplanx, earning a passive income or creating the wealth through growth and equity right.

[00:13:51] [SPEAKER_01]: The second things that we talk about so strategy me man property and real estate, meaning, you know, are we buying a property as I buy in whole or buying developing. Okay. So that's what we're maybe our strategy. Now, the second thing that we talk about is structuring, which I will probably deal into

[00:14:07] [SPEAKER_01]: a little bit more in detail when I share with you my own property development strategy and structuring whereby we're talking about are we buying an individual nine or I'll be buying it in a company name or buying in a trust name because when you buy individual

[00:14:20] [SPEAKER_01]: nine in a minute you see that the individual have individual tax right. Our company's got a company tax right and also I trust it's got its own flexibility trust doesn't actually pay tax right so all the profit get distributed to the actual beneficiary and the beneficiary

[00:14:35] [SPEAKER_01]: actually pay tax. So we talk about that the taxing side of it and the two types of tax that we actually need to sort of discuss a little bit as well. So the second part after we talk about strategy what is the best strategy or the right

[00:14:47] [SPEAKER_01]: strategy that you are deploying to actually achieve your financial freedom and the second one is how do you structure are you structure for today to minimize tax or your structure for tomorrow for financial future for retirement.

[00:15:01] [SPEAKER_01]: Okay, now, and the third one is obviously something that we are we are specialized on and something that then we expect we have an expertise on is taxation right so we're going to talk about, you know, I two type of tax probably today just with the limit of

[00:15:15] [SPEAKER_01]: the time for the audience. We're probably going to just touch on a little bit heavy on maybe GST and income tax and capital gain tax. There are a lot of tax in a minute you see but we're going to touch on those.

[00:15:26] [SPEAKER_01]: So that's what we talk about strategy number one, a structure we're using company individual or trust. We're going to touch on probably a little bit SMS safe I know you've been my, my, I'm a little bit last night saying we got to share some something on SMS say because it's

[00:15:40] [SPEAKER_01]: obviously very, very topical today right well this season. Okay, so the other thing that I remember often talking to you is that after we talk about strategy is that we often often sort of talk about well strategy is a strategy that we're going to be

[00:15:55] [SPEAKER_01]: generating cash flow today. So it's a passive income for some people that might be a baby boomer high net well, or individual that basically want to have a bit of a supplement income where the in the individual might not want to work.

[00:16:09] [SPEAKER_01]: You know, in exchange for job or salary wages but they want to make sure that they enjoy what they do what they do as a professional.

[00:16:16] [SPEAKER_01]: But they also want to make sure that have they got a security or financial confidence that I got an asset that would generate cash flow for me now before I hit retirement right that passive income.

[00:16:26] [SPEAKER_01]: So, you know, alternatively, there are baby boomer and there's no doubt there's probably listener they already on retirement. They're looking for cash flow where they don't work anymore.

[00:16:36] [SPEAKER_01]: So they need that passive income to fund their lifestyle to do whatever they want to do so that they have a choice in life, they can spend time with the family or what you know do what's most important to them.

[00:16:45] [SPEAKER_01]: Now, here's the thing you need to think about if you're going to have a cash flow today or tomorrow, particularly when we talk about structure matter because if you structure it wrongly 10 years ago, right, 10 years later when you hit your retirement.

[00:16:58] [SPEAKER_01]: If you don't structure correctly then you start paying tax implications will come through now. So the thing that we're going to talk about a little bit is that why structure become matter when it comes to wealth building now and in future,

[00:17:12] [SPEAKER_01]: alternatively tax implication, you know if you got the wrong structure.

[00:17:15] [SPEAKER_01]: Shortly you'll see this the example, you're probably paying a top module in tax or in Australia and it obviously, you know we're living in a in a in a world of wanting to make sure we protect our hard and money not so much as as a protection from credit

[00:17:28] [SPEAKER_01]: but also protecting your hard and money for the next generation, which is what a lot of wealthy people kind of worry about when they got a lot of money. How do I hand over the money to my next generation to make sure that all my hard on asset that I built is actually protected

[00:17:43] [SPEAKER_01]: but also handed over as free taxes possible. Okay, so these are the structure that we're going to be talking about quickly now. So when we talk about property investing property development.

[00:17:55] [SPEAKER_01]: Often, we talk about structure.

[00:17:57] [SPEAKER_01]: Structure meaning are we buying in in a company name are we buying in a in a trust name or and there's a little bit more complication way is that we're talking about also the joint venture which we're not going to touch on tonight because that that's a subject on its own.

[00:18:12] [SPEAKER_01]: So that's the first thing got to do.

[00:18:14] [SPEAKER_01]: So as an example, if an individual you can always buy property in an individual name.

[00:18:20] [SPEAKER_01]: And you can actually buy investing and sell it or buy develop and sell it right so remember said to you earlier on the first question that I see is, if you got any intention to buy the investing or development and you're going to see an accountant as an advisor, the very first

[00:18:33] [SPEAKER_01]: question you want to ask remember what I said to you right is that you know you got to ask the ask the right questions right so one of the question we did ask is that what is your intention now.

[00:18:41] [SPEAKER_01]: So let's say as an example, if you are buying a property and you body in your name and if you look at this taxing right at the moment. So these are the four opportunities that you can actually buy under right as an ownership.

[00:18:54] [SPEAKER_01]: Now let's say if you buy a property individual name and you ignoring, you know, the tax minimization opportunity and the fact that you don't care about ability to buy more property or affecting your increased capacity to service another property

[00:19:10] [SPEAKER_01]: acquisitions or even protecting asset. Now he's a tax right. He's the tax available.

[00:19:16] [SPEAKER_01]: All that thing that you need to be aware of. First and foremost, we're going to be talking about the three types of taxes right there's actually two type not three. So the first one is an income tax.

[00:19:25] [SPEAKER_01]: And then the income tax will be a tax on a personal right or the individual right so personal right that we're going to be talking about is this one here. So individually if you actually got a job.

[00:19:34] [SPEAKER_01]: And most people are most average Australian do have a job or you work for yourself. You pay yourself a wages. So these are the actual tax right and individual you absolutely cannot get away and avoid it right.

[00:19:46] [SPEAKER_01]: These are the individual tax right now when you look at this table what I actually want their view are to type away from this table which is really important is that I've got a lot of point asking questions that if I'm actually earning $130,000 does that mean I'm going to

[00:20:01] [SPEAKER_01]: pay 30% entirely over the whole 135 grain. You can see that the answer is actually no right because when you earn 130,000 the first level of one say 18,200 usually paying on tax that's what we call the tax rate ratio.

[00:20:18] [SPEAKER_01]: Plus you got some rebates and low income tax refund right now the second right you're paying as an individual is anything that you're not to 45,000 will be taxed at about 16% so 16%

[00:20:31] [SPEAKER_01]: and it will be the tax right that you'll be paying from 45 minus 18,000 in the next text right so on from 135,000 less than 45 that will be on 30% basic thing.

[00:20:43] [SPEAKER_01]: So what the viewer that need to take away is that when you actually earn 125,000 you actually effective tax rates only 25% right not even 3035% so that's a let's say that's the first most important thing that view want to take away that

[00:20:57] [SPEAKER_01]: that even if you're earning about 125 even even even if you're earning about 250 the actual maximum tax right you pay between 125 zoning no more than 25% so it's not 30% okay so now that you understand as an individual.

[00:21:12] [SPEAKER_01]: If you've got a job earning about 50 hundred grand you will be paying already 20% but if you're earning 120 right 25 you'll be already paying 25% tax now he's a thing.

[00:21:21] [SPEAKER_01]: If you actually choose to buy a property in an individual name or be an investing in a video nine or be a developing individual name.

[00:21:31] [SPEAKER_01]: So don't forget by the time the project completed, the project that you finish you'll be say buying it for 500 green selling it for a million dollars.

[00:21:40] [SPEAKER_01]: Right now if you actually carrying on the enterprise in property development, you actually might 500,000 dollars profit right buy for 500.

[00:21:48] [SPEAKER_01]: Well, you know keep keep the L mass really simple for today you're selling from a million a million minus 500 you're actually making 500,000 dollars profit.

[00:21:56] [SPEAKER_01]: So if you carry on the enterprise that 500,000 is actually going to be levy adding on top of your individual name as income tax.

[00:22:04] [SPEAKER_01]: So if you already got 100,000 right 100,000 plus under 500 you're going to be on 500,000 dollars plus 100,000 which push you to a marginal tax right so you're going to start thinking about the tax implication on how much tax you got to pay as a tax on revenue right now.

[00:22:22] [SPEAKER_01]: The other tax they go to think about is that if you actually not developing you probably end up doing a property investing in long term holding that means you're buying it and you hold it long term you're selling it so this couple of gain right.

[00:22:34] [SPEAKER_01]: So if you sell it for a million bucks, you know more than 12 months or some years later the 500,000 you minus the 50% 50% CDT exemption that will give you probably roughly about 250.

[00:22:45] [SPEAKER_01]: So even that you still got to have your net couple of gain 250 adding on top of your current salary wages which already be taxed 25% so now you're thinking about if you had bought it in a company trust name.

[00:22:58] [SPEAKER_01]: You got a lot more flexibility to manage your tax and high at a corporate tax right why because the company tax right you can see is only be 25% was individual tax right, you'll be paying maximum 45 plus plus a levy right

[00:23:13] [SPEAKER_01]: Medicare so that's the first and foremost when we talk about tax. Now the other thing we got to talk about is that if you are actually an investor, you can almost you can almost completely forget about the GST because he doesn't apply to property investors buying home yeah, but if you

[00:23:27] [SPEAKER_01]: actually developer you do need to think about the GST implications or the importance of understanding when you have to pay GST so GST is only applicable to you if you're buying a property, you're developing it you turn into a new property you're selling it and carrying on the enterprise as a developer.

[00:23:44] [SPEAKER_01]: So you do have to think about paying GST now the good news is, you have to register GST if you're actually selling any property over $75,000 anyway. And therefore, if you're registered GST you can claim GST input tax credit on all your building and development costs and everything right so

[00:24:02] [SPEAKER_01]: there's a GST it's really just not possible in business you just got to be aware of the obligations of actually understanding when you are required to register GST or where or not the property development that you're actually developing and selling is actually

[00:24:18] [SPEAKER_01]: required to pay GST. So those are two taxes we talked about the income tax will be basically a tax on revenue or tax on capital gain and a GST will be if you actually care on the property development now there are other tax you can see if you're holding the property the local government will pay we charge you a right

[00:24:35] [SPEAKER_01]: and charges if you're buying a property, you know or even even even any local jurisdictions, you have to actually pay GST and finally, like every states and territory, you're holding a property, even developing during the during the financial year you actually will have to pay land tax as well

[00:24:53] [SPEAKER_01]: so those are the tax on property. I'm just going to move on really quickly on I think we talked a little bit about sometimes the view I just want to know particularly in Australia and if you've got an overseas viewer but this is in Australia as well

[00:25:05] [SPEAKER_01]: what are the tax applied to you when you buy property whether be investing or development so most of most of your view already know these that if you're buying property the first and foremost whether you're buying the investing or development you got to pay state and duty anyway

[00:25:15] [SPEAKER_01]: okay the other one is that the land tax which is going to be another sort of an expensive you know to actually be aware of to incorporate in your cash flow because it happened every year so doesn't matter what territory you're staying you in particularly in Queensland and

[00:25:32] [SPEAKER_01]: Queensland, New South Wales and Victoria they got a higher land tax threshold now I think if you're lucky in either in Tassion or Northern Territory you don't have land tax obligation there. Now when you do sell it and we mentioned a little bit about

[00:25:45] [SPEAKER_01]: if you're a property developer you'll be basically tax on income tax on tax on revenue but if you actually invest for holding for long term rather than 12 months you'll be basically tax on the capital gain what it means is just 50% will be taxable instead of 100%

[00:25:59] [SPEAKER_01]: okay we touch on a little bit GST as I said if you are selling it where you're creating a new product and new new sort of property subdivisions or bringing units and apartments to do play you will need to pay GST if you're a developer okay now just the really quickly we mentioned a little

[00:26:16] [SPEAKER_01]: bit about putting all together the four questions we talked about what is your intention right you know how am I going to exit the property what are the best structure and how do I get money out so maybe we talk about strategy so one of the strategy is that instead of creating a cash flow I got flexibility if I want to sell it then I got a cash flow if I want to keep it I actually got a capital gain now or sorry equity right meaning grow so what we part of the strategy is that we

[00:26:44] [SPEAKER_01]: actually buy a property that can subdivideable into one two or three and then we build them like duplex or townhouse or even apartment I'll keep this little example shortly simple but this is actually one of the real life example that my brother and I do where we buy property close to CBD Brisbane about 10k in a suburb called

[00:27:05] [SPEAKER_01]: Jiren Pili and Turinga so these are real life two example remember as I said first and foremost our strategy is to either buy to sell with a cash flow for a profit or we will keep it for capital growth and hold it and for future right so the way that we done is that we number one we know exactly what our intentions are and then we're looking

[00:27:26] [SPEAKER_01]: at buying it creating equity building it getting the I building it getting a value so let's say if we got an end valuations from say 8.5 million dollars when it's fully completed in about say one or two years what we inevitably ended up costing us is about probably

[00:27:45] [SPEAKER_01]: 8.7 million dollars so we actually create an equity of 1.5 million or if we do sell at all we're going to be creating a profit of 1.5 million right so if we sell it we have to pay a lot of tax if we keep it there obviously there's no tax will be paid so the way we have done this is some basic example to share with you that we got skin in a game and we're doing it as well

[00:28:04] [SPEAKER_01]: but look so the way we structure is this one here so we bought the first property again this is not a tax advice or the best structuring advice for the viewer this is just my based on my current circumstance my intention my outcome my my objectives right so we structure under company trust structure number one we obviously want as a protection number two we want really flexibility in digital income to our low income family member number three we want to make sure that if we do decide to sell it

[00:28:34] [SPEAKER_01]: we decide to keep it without selling it we want to keep it in a structure that have giving us also future taxation flexibility when we do eventually sell it number four is we really want to keep it separate so it's a lot easier to get finance as well okay and not having not having all my property under one one structure so I structure it that way project number one project number two be it again if I keep it or sell it I basically try

[00:28:59] [SPEAKER_01]: to keep it under company trust structure now if I eventually do sell it I'll be taxed at I'll be taxed at the income tax level which is tax on revenue right member said to you if I do go and see an accountant this is my first project often the account will say it's so simple we're going to as a protection you got no need for taxation just buying your name but here's the thing if I happen to be successful doing this project

[00:29:22] [SPEAKER_01]: okay I'm gonna make a lot of money I don't want the profit to be tax on my personal name right because I'll be paying at a module tax right so if you're buying in a company trust name number one in a trust you got flexibility in distributing the profit to your lower lower member family income and number two you can put it into corporate beneficiary or a bucket company where the maximum tax right you pay as a small business based entity is only 25% so you can see the difference of highest manager of tax right being 45 and

[00:29:52] [SPEAKER_01]: flat tax rate 25% right so those are the reasons that we use company trust structure and you can see the flexibility now finally if I didn't actually want to pay myself a bit of project management fee or property development fee I can set up a different trading entity that actually charge my own project that is if I fully fully blown property development project right I can pay myself a bit of a

[00:30:19] [SPEAKER_01]: project management fee obviously I've got to pay tax on all my income and then ultimately if I want to reduce my tax I probably put some money into super to maximize the

[00:30:27] [SPEAKER_01]: the optimizations or the contribution rule so that I can actually tax at 15% in a minute we're not touch on a little bit about a super tax on super and also how do you super

[00:30:37] [SPEAKER_01]: to actually invest in an S in investing probably with SMSM so that's basically my strategy and my structuring and how I handle my taxes member said to you first and foremost what is my intention my intention to create wealth either cash flow or equity so that's how I do it.

[00:30:54] [SPEAKER_01]: Secondly we're talking about have I got an exit strategy. Yes, if I do want to get out. I am aware of the actual profit that I've got to be earning and I've got to be taxed. And thirdly what are the structure entity I use company trust to help me to acquire the property as the ownership and then

[00:31:10] [SPEAKER_01]: fourthly if I didn't need the money coming out how does the money come in what the money will go to my beneficiary kids and family member. Once I use them all up and allow my tax right I didn't have the ability to distribute to either super

[00:31:22] [SPEAKER_01]: or I have to use the money to acquire the property as a continuation or I back a company so that's how I tackle the four question okay. So hopefully we're on the same page, we're rolling it really really quickly now.

[00:31:30] [SPEAKER_01]: So this is the actually my my own personal master plan structuring mapping that I shared that I've been having for the last 25 years that I pay really good advisor and a big law firm give me advice on how to actually structure so often I have my own company trust structure run my practice run my

[00:31:51] [SPEAKER_01]: consultancy as separately to my investment company so you can see the second company will be my property investments where I'm holding it under a company trust and then my own building we only need a company trust and super enuation and then finally we got duplex as well.

[00:32:07] [SPEAKER_01]: You know, thanks to your guidance and we actually do something similar where we have duplex in place where we structure so that there's a cash flow coming into support the payments of other sort of hungry property, property holding entity that's costing me money.

[00:32:23] [SPEAKER_01]: And finally we got property development where we might have sell some so then we're going to pay tax from all the one that we saw but we end up keeping some so then we turn it into capital gain so that's just my my overall master plan structure okay.

[00:32:36] [SPEAKER_01]: Now, so we talk about the future remember the gap is where you are now.

[00:32:41] [SPEAKER_01]: Right and what do you actually have and and how are you going to actually get to achieve your goal. The future will be, what do you really need to generate the income the passive cash flow that you need to to live a good life to satisfy, you know, your desire and your financial freedom.

[00:32:57] [SPEAKER_01]: So you can see that if the viewer, as an example is 45 today you will really really hard to develop the strategy structure correctly. Right and manage the cash flow to hold the property in the next 1020 years.

[00:33:09] [SPEAKER_01]: As a property grow, you might want to sell the property, you might want to enjoy the cash flow. So as a property grow, you might want to sell some so if it's in your name you got to buy a lot of tax because it's in your personal name you got very little opportunity to minimize your

[00:33:22] [SPEAKER_01]: tax right because there's no flexibility but if it's in company trust structure, I can actually distribute the capital gain or the cash flow to my family member.

[00:33:31] [SPEAKER_01]: And if you've seen super in a minute you'll see it that's the kicker right it's get better where basically that's where you see you buy very very little to no tax at all. Okay, so that's basically everything we talk about how to actually

[00:33:45] [SPEAKER_01]: you know, like, like getting the right strategy and the right structure, the best structure or the right structure to your particular circumstances right and how to actually manage your tax along the way now the often often our viewer and also our perspective

[00:34:03] [SPEAKER_01]: client or even our client will talk about if we're actually investing already, you know, outside super in a company trust individual name.

[00:34:11] [SPEAKER_01]: I thought there's an opportunity that you can actually structure inside super where, you know, you can use your super to buy property with an SMSF you absolutely right.

[00:34:31] [SPEAKER_01]: You know the hot topic right now right so first and foremost right super new action actually tax differently. Right. So, and I'm not sure a lot of the audience actually even aware of it right here's the thing when the when the money come into the super you'll be

[00:34:45] [SPEAKER_01]: tax at 15% be a rental income or earnings or your contribution right if you didn't buy a property holder for more than four months.

[00:34:53] [SPEAKER_01]: You sell it is a capital gain. Here's the thing the capital gain when you tax that 10% during the accumulation phase particularly if you're under 60 right now here's the good news right and the kick up.

[00:35:04] [SPEAKER_01]: If you live long enough and you and most people do over 60 or 65 when you actually retire and and your super or be an SMSF in a pension phase, you actually all the earning coming out right is tax free which is your rental income and your

[00:35:18] [SPEAKER_01]: earning now this is not excluding your if you're if you retire but you're still working and you're still making contribution that contribution still be tax at 15%.

[00:35:26] [SPEAKER_01]: So first and foremost super tax differently have a look at this table that we put together for from our last presentation where it clearly show you know the different tax right on the actual

[00:35:41] [SPEAKER_01]: position before retirement after retirement you can see that done if you're actually by property in your name whether be you're under 60 over 60.

[00:35:50] [SPEAKER_01]: You still have to pay tax at all the time every time right if it's in a company, you can almost guarantee that you know, all your earning will be taxed at 30%.

[00:36:01] [SPEAKER_01]: You know, trust on pay tax because they're beneficiary actually pay tax but if you look at a if you look at towards the right hand side.

[00:36:07] [SPEAKER_01]: If the super enuation under an SMSF or super enuation all the earning be taxed at 15%.

[00:36:13] [SPEAKER_01]: Okay, if it isn't in capital gain will be obviously tax at 10% but here's the kicker right you look at the pension phase or when you're on the retirement phase.

[00:36:21] [SPEAKER_01]: All your earning including your capital gain is tax at zero tax rate.

[00:36:27] [SPEAKER_01]: Okay, so this is why you got to start understanding super enuation is actually tax differently now.

[00:36:32] [SPEAKER_01]: So why do why do people, you know, investors actually think about, you know, why property is so powerful for real creation right and as you always sort of alerted to me and our client as well.

[00:36:45] [SPEAKER_01]: First and foremost property are bloody great good or sorry I'm good for good for leveraging right you can you can have a you know one in one in 90% leveraging as compared to share right.

[00:36:55] [SPEAKER_01]: Second second second most important thing you know that I think we as Aussie as well as Aussie as you, you know, we love property right just the DNA as Australian sort of a DNA, you know, good old barbecue right steak what he called like a bag in an egg right you can have the bag and we're

[00:37:22] [SPEAKER_01]: really good to leverage and grow and and taxes doesn't matter you have it in a in a share or property tax comes in and the reason in a minute you see why taxes are so important when it comes to structuring right.

[00:37:33] [SPEAKER_01]: So there's the first things that we use, you know, property has been a powerful vehicle for real creation. Now the other thing is that I remember yours, you're always asking me a question so look Tony here's the thing that's a special slide, a special slide just made for you my friend right.

[00:37:47] [SPEAKER_01]: So remember you always say look what are what are your clients telling you right about the direct investment into property using SMSF right so we because of you we actually done a little sort of a Q&A and also a bit of a survey as well.

[00:38:02] [SPEAKER_01]: And here's some of the here's some of the finding from what the client is telling us as well and some of your guys are telling us is that first and foremost, right clients are saying that I want to invest in direct property via an SMSF.

[00:38:15] [SPEAKER_01]: Simply because I have total control, I got more control in my own investment strategy right so that's the first and foremost right. The second one is we talked a lot about taxes right well isn't it obvious that SMSF or even super giving you a lot lower tax right be 15 or zero tax right

[00:38:33] [SPEAKER_01]: right now and the last one I think is really important is that you can actually grow your super annuation right in an SMSF with your investment choices, but also make you know the maximum super annuation contribution where all the contribution you might subject to maximum new rule today I think entering into

[00:38:52] [SPEAKER_01]: 20-25 financial year is about 30,000 right so you can actually contribute 30,000 and only get taxed at 15% whereas if you're earning outside super been 100,000 you can see the example even at 125 you'll be taxed at 25%.

[00:39:06] [SPEAKER_01]: So it makes sense that you want to make salary sacrifice and start investing and save money to put into super because the money going to super not only tax at 15% at a concession or tax right you're saving 10% straight away but on top of that you can fast track reducing your debt inside SMSF your loan and here's

[00:39:36] [SPEAKER_01]: so that's a special slide just done specifically for you my friend okay hope you like it by the way you get to share with me once you unmute yourself.

[00:39:43] [SPEAKER_01]: Now so the other thing is I think one of the things that we fast on that about right being as SMSF specialist advisor is that when I started I don't know if I mentioned that to you nice and you know you couldn't believe it man yes I started you know 25 years ago when I was 10 miles or do your

[00:39:59] [SPEAKER_01]: stuff right you know like you couldn't believe it right when I started the SMSF was only around 25,000 right so that means there's only 25,000 structure 25 years ago right fast forward to today 2024 guess what if you check on the ATO database there's

[00:40:29] [SPEAKER_01]: the average trustee and every trustee's member got about a million dollars in there in the fund right compared to the retail fund where you got a mile super new Asian balance is about 400,000 right and the females were 318,000.

[00:40:46] [SPEAKER_01]: Alright so this is just something you know that we done a bit of a statistical sort of investigations on but here's the thing.

[00:40:55] [SPEAKER_01]: So why is, you know, the current sort of a space in the actual super new Asian SMSF becomes so sort of exciting at the moment you can probably see in the last six to 12 months right where where super new Asian SMSF and property has been sort of talk of a town.

[00:41:11] [SPEAKER_01]: Now one of the things is that you can see the amazing advantages of an SMSF is that first and foremost, is that not only you have a better control of your financial destiny in your future retirement is that you can see that there's a far more tax-effective concession in an SMSF right with the super

[00:41:28] [SPEAKER_01]: and the other thing I think is really really important is that when you actually have a retail fund is that your fund and your partner's fund or your brother and sister they all kind of scattered everywhere right they're not combined as an investment as one sort of opportunity to invest together.

[00:41:46] [SPEAKER_01]: So one of the things that it can be good or bad is that you know you with SMSF you got an actual opportunity you can combine the husband and wife and brother and sister spouse to get up to six member where you now got a larger pool that otherwise you can actually buy property you couldn't afford to buy but now you can

[00:42:02] [SPEAKER_01]: actually borrow as well right and buy a property in an SMSF with your super. So one of the things that is important is that you mentioned about well okay what are some of the property that if I got a sufficient super and I'm interested in considering using SMSF to buy a property with borrowing and I think one of the things that some of the question you'll be asking will be so well Tony what can

[00:42:26] [SPEAKER_01]: what sort of type of property that can my SMSF open my super annuation buy and one of one of the things that you can do in terms of residential property the type of property can buy first and foremost which is something that you're super specialized on is your duplexes right so SMSF can actually buy a property such as duplexes apartment townhouses or house on a package or house right the existing one or brand new one.

[00:42:51] [SPEAKER_01]: Now if you if you are entrepreneur business owner like you and me we definitely can buy our commercial property on we specialize on a lot of high net worth individual and professional like doctors and dentists practitioner owner right so they can actually buy practice practices on property that they actually operate from like we operating from my own building that I'm actually on by my SMSF as well.

[00:43:13] [SPEAKER_01]: The other really really good one is that over the probably past 1020 years we see a lot of client actually go residential property where they actually run my business premises over it right from it so as long as 100% exclusive operation from my business.

[00:43:30] [SPEAKER_01]: We could actually classify the property as being business real property that means your SMSF can actually buy that property from you if you do have one and finally you go industrial and warehouse and so on right.

[00:43:41] [SPEAKER_01]: So those are the type of property you can actually buy. Once we sort of open up the forum for Q&A and more than happy for you to sort of discuss a little bit further now I'm just going to take you through a little bit more on how the actual SMSF strategy are structuring works where you need a company as a special purpose vehicle trustees for an SMSF which is basically a trust if you are going to do borrowing subject to the

[00:44:05] [SPEAKER_01]: borrowing rule you do need to have a special holding company or holding trust which is sometimes called a Bay Trust or a custodian trust to hold the property to separate the ownership and the bank will lend you the money based on the structure.

[00:44:22] [SPEAKER_01]: If you don't have the LRBI or the actual holding company holding trust the bank won't lend you that money okay so based on this as I said you know when you're using your super to buy property in SMSF one of the benefit you get is that

[00:44:35] [SPEAKER_01]: when you actually get to the end being retirement you know you'll be able to enjoy the effective tax right very concessional right at zero tax right subject to obviously the cap limit 1.9 at the moment right and as I said the more money you put into super as a contribution being taxed

[00:44:51] [SPEAKER_01]: to 1.9 percent sometimes even lower if you got a brain your property with depreciation right and you can actually use the remaining net income from your rental property to pay down the debt so those are some of the benefit there now this is actually as an example real life

[00:45:07] [SPEAKER_01]: example that I'll share with you that we did probably about 10 years ago where I just for the sake of the protecting the innocence name let's call them Jack and Jew right that's not the real name but so these two individuals coming to see us 10 years

[00:45:22] [SPEAKER_01]: ago they got 350 grain in super they both earning reasonable income and so one of the strategy and this will talk about the sequencing strategy is that you don't just do your basic normal contribution from your employee anymore so what we do is we maximize

[00:45:38] [SPEAKER_01]: we do a financial planning we look at where you at where you're going how much can your budget how much can you save how much can your service how much can you put it away so so in terms of how much we can put it away we we worked it out that gradually we can actually mix up the

[00:46:03] [SPEAKER_01]: $650 right and basically we only have 350,000 so we don't have enough money so we got to go to the bank and borrow the balance of it to find the actual complete acquisition fast forward to 2024 you look at this here if you do an

[00:46:17] [SPEAKER_01]: RP data search or a property search this property right now in Queensland is actually worth about 1.5 million so that's only 10 years ago right now here's the thing so this is a beauty look at it right so about 10 years ago the individual will buy this property for 650

[00:46:33] [SPEAKER_01]: renting out of 750 fast forward 10 years later we were predicting you know probably probably double every 10 years or at least you know 15 or years right growing at a rather 510% but what's this so we are now at what 2020 2023 we're not even at 2024 the property is actually worth 1.5 million dollars

[00:46:52] [SPEAKER_01]: right and here's the thing the individuals already 65 years so we put it in pension that that's all gone right the property if you sell this property right now at 1.5 million you know go 1.5 million financial confidence in your bank account right that you can actually

[00:47:09] [SPEAKER_01]: you know have plenty of cash at the bank now obviously if it's in pension the money comes out would be tax free in terms of earning if you do sell it a couple of game will be tax free as well okay so you can see that what SMSM actually help you I guess the the my take away on this one really to share with the audience is

[00:47:30] [SPEAKER_01]: that when we talk about structure in your name in a company or trust and SMSM you can see quickly if you're structuring your name often the the the ultimate tax implications or the the outcome is that you're going to have a lot of types right there's not much of the money you can hold but if you have it in a company

[00:47:48] [SPEAKER_01]: you have you only have to maybe pay a maximum tax at about 25 30% but you have it in a super you can see there's a lot more money for you to keep at the end of your your your your your achievement or your financial success and ultimately when you now enter into the future where you know enjoying your financial freedom and your retirement that's

[00:48:07] [SPEAKER_01]: that's where you want to make sure all the money sits in a tax effective environment okay the structure okay so I'm just got a few more maybe slide to share with you and I probably stop sharing on that you can see that structuring so important and it matter because you've got to think

[00:48:22] [SPEAKER_01]: about 10 years ago where you got money outside super inside super so if you got a lot of money outside super you can obviously start the project in in in company individual name or trust where you start accumulating wealth and making money but using company

[00:48:46] [SPEAKER_01]: you know what you want to do is actually get better because the money coming out of the extreme right now there is a bit of a fine lining in terms of try don't wear if I put money into super now sure I don't get to use it but this is what you want to do right you want to start saving money into

[00:48:59] [SPEAKER_01]: the future so the more money you guys is saving the future because that's where you want to be you want to make sure you got plenty of money in the future so when you do retire you know you're going to be able to have that financial confidence to make sure that you can live a beautiful

[00:49:11] [SPEAKER_01]: life so that you can financially free having that passive income so that's why I said to you when you do buy a property today you got to ask the first and foremost question what are the intention so the intention is for financial future and retirement putting

[00:49:23] [SPEAKER_01]: your nine probably not very smart so you got to get the right advice and making sure you ask the right question so that's that they look I do have a few more strategy here and we can open for Q&A a little bit later on so one of the

[00:49:36] [SPEAKER_01]: things that I like about SMSF as we sort of discuss often is that it often you it often actually provides you a lot more sophisticated and flexibility in tax planning right and tax plan is so important to get a high-neigh-worth individual and retiree particularly if you if you

[00:49:51] [SPEAKER_01]: got asset outside super you still need to have some some kind of a tax planning and text planning actually don't do it at the end of the year you want to do it during the financial year right perhaps often as my at least you got a minimum twice in a year in

[00:50:04] [SPEAKER_01]: tax planning you know SMSF is wonderful at the moment because you can actually buy property with boring and ultimately if you got more money in super in SMSF you have the ability to diversify and widen up your investment sort of options

[00:50:17] [SPEAKER_01]: right and SMSF particularly for retirement income stream as I said is very very tax effective all the income coming out of the super will be tax free okay so those are the strategy now I won't probably go through all these what I do want to go through is this particular

[00:50:32] [SPEAKER_01]: slide about this one here we talk about remember a particular slide with all about having a leverage and growth and taxing so without leveraging time and money right you got nothing to show for in terms of retirement so meaning you got

[00:50:48] [SPEAKER_01]: to save money you got to leverage it right so you got bigger asset at the end so that when you do hit the retirement you got more money coming out okay the other thing as I said me members said to you ask a smart questions and these are some of the questions that we share with the audience say

[00:51:04] [SPEAKER_01]: you are going to buy your first property should be in your name because it gives you more tax benefit but have you consider the future tax implication particularly in capital gain tax and inability to split the income between you and your future partner

[00:51:17] [SPEAKER_01]: okay some of the other question we talk about is that if you are going to buy in whole particularly in the individual name or in a company trust name as a developer what is the tax implication in terms of income tax or capital gain tax and CGT so you need to think about all these

[00:51:36] [SPEAKER_01]: tax sort of implication up front lastly we talk a little bit about if you are going to create the wealth into the future and you want that passive income coming out is it better coming out of the company because you already pay 30% tax so you won't pay any more than 30% unless you're on a higher marginal

[00:51:52] [SPEAKER_01]: tax right or should it be in a super when the SMS safe whereby you pay no tax at all when the money comes out remember we talk about how the money goes in how the money goes out okay so that's that they lastly I think you know for the audience really I think

[00:52:08] [SPEAKER_01]: you know you often teach me as well structure or strategy is really important and having the right structure really greatly benefit your future because if you don't have the right strategy and the right structuring that might have a bit of a

[00:52:24] [SPEAKER_01]: detriment in terms of you know in achieving what you're looking for in the future as well okay finally look as I said you might think that I was saying that this this is sounds really great you know what is the best structure as I said or what are the

[00:52:38] [SPEAKER_01]: structuring option that you should be using to save tax I always say there's no silver bullet right there's no one structure space for everything right so at the end of the day is personal circumstances personal financial sort of situation as well so at the

[00:52:53] [SPEAKER_01]: end of the day I would say that the individual just might want to see a professional and legal sort of an expert just to make sure that you understand exactly where you at what are you actually trying to invest in what are you trying to get out of it

[00:53:06] [SPEAKER_01]: what are the available structure this best suit you and what are some of the tax implication that will tax now into the future and then the best structure will help you you can see that

[00:53:16] [SPEAKER_01]: navigate and minimize your tax obligation and protect your asset okay look I think that's probably a little bit what I want to share with you guys.

[00:53:24] [SPEAKER_00]: That's terrific Tony look such a brilliant session and I've got so much value out of this what we're going to do if anyone's got any questions what I want to encourage you to do is send through the questions to our website the residential developer dot com dot au feel free to comment on our

[00:53:42] [SPEAKER_00]: YouTube or our social media channels what we're going to do I'm going to get Tony back on in a couple of months time we're going to do a follow up Q&A and really unpack some key elements of when it comes around to your development journey.

[00:53:56] [SPEAKER_00]: I look Tony this has been such an insightful presentation as I said well in our next episode and in our next episode when we get you on will go through a Q&A but what we're going to have a lot of listeners who are going to want to reach out who are in the space where they really need to get some good

[00:54:13] [SPEAKER_00]: tax advice and really want to develop a plan like you said for retirement to generate wealth how can people get in touch with you off the back of this episode to really help them kickstart just to determine if they're the right fit for you and vice versa how can people get in touch.

[00:54:29] [SPEAKER_01]: Okay, thanks very much. I can really appreciate that and thanks for the opportunity to share with your audience as well so to move to the next level next step as well.

[00:54:39] [SPEAKER_01]: Often I basically want to ask questions and some of the question we asked your audience it'll be like, you know, are you okay right can you live the life so that you want to live for the future.

[00:54:49] [SPEAKER_01]: So how we actually help the audience is that it, we work with property investors and developer and this is a couple of ways that we help.

[00:54:58] [SPEAKER_01]: First and foremost, obviously if you want a clear strategy to make profits in either investing in property development. If you want to actually have the right property investment structures or a property development structure.

[00:55:11] [SPEAKER_01]: And if you want to get the right tax advice to make our smart financial decision. So we actually work with property investors aspiring either be one or plus property or two to five or even more than six property, as well as a developer with from one to five property or even five to, you know, a dozen property

[00:55:32] [SPEAKER_01]: development site so we work with property developer and this is how we can help. So what we tell we do is that we work specifically with business owner and specialist practitioner doctors and all that just on a service provider but also we specializing in just on the property

[00:55:47] [SPEAKER_01]: investors and development and property personal personal world creation as well. Okay, but the other things that we mentioned earlier on is that we specialist in SMS as well so we can actually help audience with you know property acquisitions within with a super and set up the SMS

[00:56:04] [SPEAKER_01]: S7 administration SMS step as well. So one of the things that we can achieve in terms of working together is that we we focus on the actual tax compliance which is your basic normal tax return preparation from company trust and individual to super fund as

[00:56:18] [SPEAKER_01]: well but we also keep business advisory, advice and strategy as well. Most importantly, we do a lot of property strategy and structuring advice as well including wealth advisory and SMS administration. So those are area that we can actually

[00:56:32] [SPEAKER_00]: work together by helping your audience to actually achieve the financial goal. Well Tony, this has been a really brilliant session. I appreciate you jumping on taking the time to put together such a wonderful presentation.

[00:56:47] [SPEAKER_00]: I've got no doubt that our listeners and are going to get a huge amount of value out of this. So thank you all for listening in to this episode of the podcast. Look, once again if you've got a lot of value out of this episode Tony's details are going to be in all the show notes.

[00:57:07] [SPEAKER_00]: We'll put all these details so you can get in touch with Tony and his team to help you on your investment development journey from a tax implication side of things and really to help you generate wealth.

[00:57:18] [SPEAKER_00]: And look, if you enjoyed this episode I want to encourage you just to share it with those around you share it with family friends colleagues fellow developers make sure you like and subscribe to all the various channels of this podcast.

[00:57:31] [SPEAKER_00]: So thanks again for listening. We appreciate it. I'll see you next week.