It’s difficult to fund my rental property through the year because it’s negatively geared. I get a refund though. Is there a way to spread this throughout the year? – BBQ Talk 34

It’s difficult to fund my rental property through the year because it’s negatively geared. I get a refund though. Is there a way to spread this throughout the year? – BBQ Talk 34

I find it difficult to fund my rental property through the year because it is negatively geared. I always get a big refund though, I wish there was a way to spread it out throughout the year.

 

Ans (Tammy from Affinitas)

You’re in luck. This time of the year we do PAYG variations for many clients who are in your situation. These variations require a detailed estimate of your tax outcome for the year which is submitted to the tax office. The tax office then contact your employer and request they alter your tax rate, meaning less tax is taken out of your pay and more is paid to you. This helps with cash flow throughout the year but does mean that you won’t get the big refund at the end of the year.

If you think PAYG variations might help your cash flow, please contact us for more information so we can make sure it would benefit you.

If you are interested in the services that we offer and would like to have a chat with one of our friendly staff, please contact us on 3359 5244, visit our website or come see us in our Aspley Office and let us explain what we can do for you!

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Agilis Chartered Accountants

Agilis Chartered Accountants provides tailored accounting services, offering clients a high level of personalised advice and support - from individual tax to business consultancy. With a commitment to driving success, we provide comprehensive accounting and advice solutions that ensure every stage of your journey is met with the utmost efficiency. From startup through expansion and growth, our services make it easier for you to achieve business objectives – ultimately leading towards greater financial stability.