Have you ever wanted to know how successful property developers build portfolios and live off the income? And also save tax in the process?
In a recent seminar for the Perth Property Networking Group on the 13th of November, I provided some valuable insight on just that.
Most property developers simply aren’t willing to share their secrets, but I shared mine with over 60 Perth seasoned property developers and investors wanting to educate themselves on the tips to be aware of and traps to avoid.
Tax implications of property subdivision and how to avoid tax traps
Along with myself, two highly successful property developers Julie Taylor and Helena Farrell, shared case studies on the following topics:
• Fundamentals and goals
• How they found a profitable site
• Doing the numbers and due diligence period
• How they raised the funding and reduce exposure to the banks
• Project management & Construction, fit out and sales/ marketing
• Profit sharing between partners and joint venture partners
I have been involved with the property industry for 14 years as CFO, GM and Property Tax Specalists. And tax tax implications of property subdivision can be costly with many tax traps lurking if right advice is not taken.
So I was delighted to share my experience with the group and covered topics such as:
• Top 3 Tax Traps for Property Investors
• Tax Implications of Property Development
• Understanding Nature of Property Development
• Best Structure for Property Development
We also covered a case study of how we saved $94,000 in taxes for a client and increased his return on development project by over 10% just by tax savings. Awesome.
The key message from the seminar for property developers is to seek the best possible property development tax advice prior to the offer is made for the block. If not, then you’re more likely speculating, than investing.
The seminar received a fantastic feedback and was perfect for people wanting more insight into how they can create wealth thru property development. There were insightful ‘nuggets’ for everyone nothing about.
Thanks to Winston White of Perth Property Networking Group for inviting me to speak at the event.
Do you have any questions about your property development project? Happy to help with a free 1 hour consult. Just clock on the link below to book.