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Tax Withholding Variation For Property Investors

Posted by Paul Wilson

Some investors find it hard to meet loan and various other expenses with their property investments, especially in the early stages when their cash flow may not be so flush, so I just wanted to make sure that you were aware of the incentive that the Australian Taxation Office (ATO) has for property investors as regards taxation refunds.

They have in place a system whereby investors can receive their taxation refund back through their PAYE taxation throughout the year.

Some investors prefer to get their refund in one lump sum and feel that they have better use of the money this way, but others prefer to have their weekly taxation deduction reduced.

Some feel that by getting their refund deducted weekly it gives them a better cash flow, whereas other investors feel they like to use the lump sum for reinvesting or renovating.

This refund can be activated by lodging a Tax Withholding Variation Form (ITWV) with the ATO. There are certain requirements that need to be in place before this can be processed but after having read the form and you feel you are eligible for your tax refund to be paid this way, then lodge it with the ATO.

This is the web address where you can get more information and where you will be able to

download the relevant ITWV form: http://www.ato.gov.au/content/00188348.htm

If you would like to talk to me about this tax variation don’t forget you can call me direct on 1800 600 890, Paul Wilson.


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