No one wants to pay more tax than they need to, and no one wants to get in trouble with the tax man, so today Ken Raiss and I interview Rob Thompson, Assistant Commissioner of Taxation, who has a front-row seat to the intricacies of our tax system, and he’s here to help unpack some of the complexities that property investors like you often face.

Today we’ll be discussing

• The ATO’s data matching program for property investors
• The tax gap of $1.2 billion and why it’s relevant to rental property investors
• PAYG instalments
• The difference between deductible repair expenses, initial repairs and improvements and
• The ATO’s new borrowing expenses calculator (this can be something we plug in the podcast and include links and more information in the show notes).
• How to Pay As You Go instalments help manage tax bills throughout the year.
• Understanding your tax obligations to avoid mistakes.
• Treating your property investments like a business, not a hobby.

Chapters

04:09 The Importance of Data Matching and Compliance

07:05 Navigating Property Management Data

09:45 Distinguishing Between Repairs and Capital Improvements

12:19 Initial Repairs vs. Ongoing Maintenance

15:15 Understanding Depreciating Assets and Their Claims

18:17 Managing Interest Expenses and Tax Gaps

21:26 Claiming Borrowing Expenses Effectively

24:14 PAYG Installments for Property Investors

26:04 Final Thoughts on Tax Obligations and Compliance

32:21 The Value of Struggle in Success

Links and Resources: 

Michael Yardney 

Ken Raiss – Director Metropole Wealth Advisory

Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us 

• Tax time toolkit for investors: ato.gov.au/Investorstoolkit 
• Rental properties guide: ato.gov.au/rentalsguide 
• Rental video series: ato.gov.au/Rentalvideos 
• Tax statistics: ato.gov.au/taxstats 

Get a bundle of free reports and eBooks – www.PodcastBonus.com.au  

Also, please subscribe to my new podcast Demographics Decoded with Simon Kuestenmacher – just look for  Demographics Decoded wherever you are listening to this podcast and subscribe so each week we can unveil the trends shaping your future. 

Shownotes plus more here: The Tax Man Knows More About Your Property Investments Than You Think – Assistant Taxation Commissioner Rob Thompson

Have you ever wondered what makes the greatest investors in the world not just wealthy, but truly fulfilled and happy?

Well, today, we’re going to explore that question with someone who’s had the unique opportunity to sit down with the legends of the investing world – best selling author, William Green, the author of Richer, Wiser, Happier: How the World’s Greatest Investors Win in Markets and Life,

William has spent decades interviewing and learning directly from icons like Warren Buffett, Charlie Munger, and Sir John Templeton.

But what’s fascinating about William’s work is that it’s not just about investing. It’s about uncovering the principles and mindsets that can lead to a richer life—financially, yes, but also emotionally and intellectually.

Our chat emphasised that true wealth isn't just about financial success; it also involves achieving a balanced and fulfilling life.

Takeaways

• The power of compounding is essential for wealth creation.
• Investing requires a mindset focused on continuous learning.
• Humility is crucial in avoiding overconfidence in investing.
• Delayed gratification is key to long-term success.
• Wealth is not just about money; it's about life balance.
• Kindness can be a competitive advantage in business.
• Learning from adversity is vital for growth.
• Cloning successful strategies can lead to better outcomes.
• Navigating uncertainty requires preparation and humility.
• True wealth includes health, relationships, and contribution.

Chapters

00:00 Introduction to Richer, Wiser, Happier

03:58 William Green's Journey to Investing

07:52 Lessons from Legendary Investors

13:26 Mindset of Successful Investors

16:10 Balancing Wealth and Life

20:55 Avoiding Stupidity in Investing

22:51 Understanding Market Complacency and Risk

24:58 The Art of Delayed Gratification in Investing

27:23 The Power of Compounding in Wealth and Wisdom

30:00 Compounding Goodwill and Building Relationships

32:10 Navigating Uncertainty in Investing

36:17 The Role of Humility and Luck in Success

39:16 The Importance of Sharing and Giving Back

42:34 Simple Ideas for a Richer, Happier Life

46:17 The Power of Peer Groups in Investing

49:23 The Ant Philosophy: Never Quit

Links and Resources: 

Michael Yardney 

Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us 

William Green - Richer, Wiser, Happier: How the World's Greatest Investors Win in Markets and Life 

Join us at Wealth Retreat - Australia’s Premier Wealth Retreat for Elite Investors and Business People www.WealthRetreat.com.au  

Get a bundle of free reports and eBooks – www.PodcastBonus.com.au  

Also, please subscribe to my new podcast Demographics Decoded with Simon Kuestenmacher – just look for  Demographics Decoded wherever you are listening to this podcast and subscribe so each week we can unveil the trends shaping your future.

Shownotes plus more here: Richer, Wiser, Happier – How the world’s greatest investors win in markets and life

We have just wrapped up another fascinating year in property, so it’s the perfect time to reflect on the trends, surprises, and key events that shaped the housing markets in 2024, and more importantly, look ahead to what 2025 might bring.

Joining me today is Dr. Nicola Powell, Chief of Research and Economics at Domain.

Together, we’ll unpack the major shifts we’ve seen this year, explore what they mean for investors and homeowners, and discuss the outlook for the year ahead in Domain’s End Of Year Wrap Up report.

At the end of our show today you should have some more clarity on what lies ahead for our housing markets, so let’s get started and see what lies in store for property in 2025.

Takeaways

• 2024 was a year of economic turmoil, but the housing market showed resilience.
• Interest rates remaining high have created uncertainty for buyers and sellers.
• The rental market is experiencing a shift with increased stock and lower vacancy rates.
• Melbourne's property market has underperformed due to various factors that we discuss
• Political policies will play a significant role in shaping the housing market in 2025.
• Sustainability is becoming increasingly important for buyers in the property market.
• The demand for green homes is rising, leading to quicker sales and higher prices.
• 2025 is expected to be a year of two halves, with potential growth in the second half.
• Regional markets are seeing interest from buyers seeking affordability.
• Understanding market dynamics is crucial for successful property investment.

Chapters

03:57 Surprises and Predictions for 2024

06:49 Melbourne's Market Dynamics

09:47 Shifts in Buyer Preferences

12:52 Regional vs. Capital City Markets

15:50 Forecasts for 2025

18:42 Government Policies and Their Impact

21:55 Sustainability Trends in Housing

24:40 Economic Concerns and Market Resilience

27:55 Final Thoughts and Predictions

Links and Resources:

Michael Yardney 

Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us 

Dr. Nicola Powell, Chief of Research and Economics at Domain. 

Domain End-of-year Wrap 2024 

Get a bundle of free reports and eBooks – www.PodcastBonus.com.au  

Also, please subscribe to my new podcast Demographics Decoded with Simon Kuestenmacher – just look for Demographics Decoded wherever you are listening to this podcast and subscribe so each week we can unveil the trends shaping your future. 

Shownotes plus more here: Navigating the Property Market: 2024 Insights and 2025 Forecasts from Domain with Dr. Nicola Powell