Are you considering a complex construction project or renovating a high-end luxury home? 🛠 If so, you may want to listen up because there's an important piece of advice you DON'T want to miss. While staged drawdowns may be a common and suitable option for some residential projects, Quoc Duong recommends a different approach for more complex projects. His preference is a monthly drawdown, which ensures that the builder is paid only for work that has been completed. 💰 This payment plan is not only more efficient, but it also allows for greater transparency and accountability throughout the project. So if you're looking to put your money to good use and get the best possible results, monthly drawdowns are definitely worth considering. 🎧 Listen to the full episode on Spotify, Youtube, or wherever you get your podcasts. (The Property Blueprint Podcast - Ep7) The Property Blueprint is proudly brought to you by Duo Tax 💪 Links 👇 Spotify: https://spoti.fi/3q9gI6n YouTube: https://lnkd.in/gAA6GEFh Apple Podcasts: https://apple.co/45awxZk Amazon Music: https://amzn.to/45ehHAQ Google Podcasts: https://bit.ly/3DEFwGf #propertyblueprint #thepropertyblueprintpodcast #property #investingtips #propertyinvesting #quantitysurveyors #costestimators #construction
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If money wasn't an issue, WHERE would you invest? We ask the team! Comment below where YOU would invest! #taxdepreciation #propertyinvestment Disclaimer: All information is general and not financial advice. Always seek professional advice.
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Estimator vs. Quantity Surveyor: What’s the Difference? Here's what you need to know about the distinctive roles, responsibilities, and skills of an Estimator and Quantity Surveyor. 👷♂️ Estimator A construction cost estimator’s primary duty is to provide initial cost estimations that help builders and subcontractors secure tenders. 👷♂️ Quantity Surveyor Quantity surveyors are qualified construction professionals who serve as advisors within the industry. They are also one of the few professionals recognised by the Australian Tax Office as qualified tax depreciation experts. 📄 The Differences That Set Them Apart While estimators and quantity surveyors share similarities, there are key differences. • Projects they handle: Quantity surveyors often deal with larger, more complex projects, especially in the public and private sectors. Estimators, on the other hand, are more commonly engaged with residential and smaller commercial projects. • Their priorities: Construction estimators focus on providing accurate and timely cost estimations to win tenders. Quantity surveyors prioritise providing the BOQ (Bill of Quantities) and monitoring construction costs throughout the project lifecycle. • Their roles: Quantity surveyors provide support before, during, and after a construction project. Conversely, estimators are mainly involved before a project begins, during the tendering phase. • Tax depreciation: Quantity surveyors are qualified to provide depreciation schedules; estimators aren’t. Knowing the right person for your specific needs can help you get the best advice for your investment property. Read full article to know what the main roles, responsibilities, and skills of an Estimator and Quantity Surveyor are: https://lnkd.in/gV7zb8Dw
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Inaction is the biggest DOWNFALL for any investor - so don't let it happen to you! Take ACTION when you can—consult with an accountant, mortgage broker, or buyer's agent to start your property investment journey. Disclaimer: All information is general and not financial advice. Always seek professional advice. #investsmart #propertyinvestment #propertyinvesting #investorsuccess #takeaction
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Did you know that the cost of seeking professional advice on building your investment income can be tax-deductible? That’s because the ATO recognises the value of sound investment advice! So if you consult a quantity surveyor to provide you with a depreciation schedule for your investment property, not only are the fees you pay tax-deductible, but the depreciation benefits from the schedule can significantly reduce your taxable income. #propertyinvesting #taxdeductions #taxsavings
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The Tax Depreciation Guide to Duplex Houses 🏘 What Is a Duplex House? A duplex house is a single property on one block of land divided into two separate residences. The two individual homes are under one roof, but generally, there are different occupants living in each unit. 💲 Potential Benefits of Investing in a Duplex House 1. Double the rental income 2. Flexibility 3. No need to subdivide 4. Depreciation deductions 📉 Potential Risks Associated With Investing in a Duplex House 1. Higher maintenance costs 2. Living with your tenants Owners of duplex houses can benefit from higher tax depreciation as you can claim on both properties if they’re rented out. Duplexes often have more space and utilise more land, and importantly, they include double the amount of plant and equipment, allowing for increased depreciation claims on each self-contained unit. Read full article here: https://lnkd.in/g6zZC9MP
The Tax Depreciation Guide to Duplex Houses
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Curious what it's like to work with weird and wonderful properties? 😁 We asked our team to spill the beans on their most interesting experiences and the lessons they've learned along the way! #taxdepreciation #propertyinvesting #taxtips #propertyassessment Disclaimer: All information is general and not financial advice. Always seek professional advice.
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Laugh out loud with the Duo Tax team as we play "Who's Most Likely To" 🤣 Guess who's the most patient (and impatient!), the funniest, and even the most annoying team member. 🙈 #duotaxteam #whosmostlikelyto #officelife #workfam
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First Home Buyer Investment Property: Is It a Good Idea? 🏡 Buying a Home to Live In For many Australians, buying a home to live in represents fulfilling the long-held “Australian dream” of home ownership. 1. Fulfils the “Australian Dream” of Home Ownership 2. More Emotional Fulfilment and Stability 3. Mortgage Payments Build Equity You Keep 4. Government Grants and Stamp Duty Concessions 🏠 Buying an Investment Property Purchasing an investment property as your first home has become an increasingly popular route for getting started in Australian real estate. The strategy of “rentvesting” allows you to invest in property and generate rental income while continuing to rent affordably in the area you want to live in. 1. Renting Where You Want While Generating Rental Income 2. Tax Benefits 3. Potential to Access More Affordable Properties to Get Started So, Should You Occupy or Go the Property Investment Route? Determining if your first home should be a residence for yourself or an investment comes down to weighing several personal and property market factors: ❓ Can you afford properties in areas you want to live in? ❓ Will renting impact your lifestyle or stability? ❓ Do you plan to move to other areas in the near future? ❓ What are the price growth projections in each area? Deciding whether to buy a home to live in or an investment property depends on your personal preferences and financial capacity. Read the full article here: https://lnkd.in/gS2JuT6u
First Home Buyer Investment Property: Is It a Good Idea?
https://duotax.com.au
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My best investment decision was OWNING my own home! Not only did it provide a place to live, but it also allowed me to build equity and eventually invest in other properties. Plus, when you sell your home, you can often do so tax-free, freeing up money for other life goals. 🙌 Disclaimer: All information is general and not financial advice. Always seek professional advice. #realestateinvesting #homeownership #investingsmart #buildwealth
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An Australian construction company has, on average, filed for bankruptcy every 24 hours over the last 2 years? The Aussie construction industry has been on a wild ride since COVID hit, affecting everything from housing supply to off-the-plan purchases. If you're into property investing, stay tuned for our quarterly updates on construction costs and trends! #propertyinvesting #builderbankruptcy #constructioncosts #economictrends
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