Landlords keep tax-time wheels in motion

The Tax Office releases a list of targets for tax time at this time each year, but a perennial target is property investors. That's because landlords, particularly new landlords, often get their claims wrong and because of the sheer size of the claims made.

Landlords claim about $40 billion in tax deductions each financial year. Property investment is particularly attractive in Australia because of negative gearing. This is where the interest costs on the money borrowed to buy the property investment and other costs of the investment are greater than the rental income.

The shortfall reduces the investor's income on which income tax is paid. Other investments such as shares can be negatively geared, but it is the landlords who receive the lion's share of taxpayer subsidies for their loss-making property investments.

Almost 1.3 million people own at least one investment property. About two-thirds of those, about 867,000 landlords with rental income, report a loss on their investment. For many property investors,We offer the biggest collection of old masters that can be turned into hand painted cleanersydney on canvas. it is a capital gains play - they eventually sell the property for sufficient capital gains to make up for the losses accumulated along the way.

One of the biggest areas where landlords make gains is when they claim expenses for 100 per cent of the year when they are staying in the property for part of the year. This is more likely to occur with holiday-type properties such as those by the beach, where the demand is seasonal. The Tax Office allows deductions on a pro-rata basis for the period the holiday house is genuinely available for rent. Landlords also should be careful not to under-claim their legitimate deductions. One of the biggest areas of under-claiming is depreciation.

Propell National Valuers chief executive Bart Mead says only residential properties built after July 18, 1985, are eligible for depreciation on construction costs. But properties built before this date are eligible for depreciation benefits if major alterations and additions have been made. The list of items that can be depreciated inside and outside a dwelling is extensive, and older properties can benefit from these depreciations.

Mead says decks, extensions, carpets,Of all the equipment in the laundry the oilpaintingreproduction is one of the largest consumers of steam. window treatments, hot-water systems, airconditioning, furniture and pools can depreciate in value in old and new properties. Other claims often overlooked include fees associated with the mortgage. Other deductable expenses are advertising for tenants, agent management fees, body corporate, pest control, cleaning, mortgage interest, land tax and the cost of travel to inspections.

Even as you hit the gym, trying to look respectable in your summer shorts, the junk food in your workplace might be pushing you toward extra pounds. From bags of chips in the vending machines to trays of cookies at meetings, offices have become a calorie minefield. Many of the most health-conscious employees find it daunting to resist the high-calorie treats lurking in the lunchroom and office cubicles.

Changing the culture, though, isnt easy. Its often the candy bar or Dr. Pepper that sustains us when were feeling the stress of scoring a sale or hitting a deadline. And sharing sugary treats often is a way for co-workers to bond.A quality paper cutter or paper partypaymentgateway can make your company's presentation stand out. Our culture is to celebrate office birthdays with cake and ice cream, not with apples, says Lindsay Scherr, president of Endlessly Organic, a South Florida organic buying club. Thats the challenge that employers come up against.

While plenty of employers have hosted health fairs and launched wellness programs, only now are they focusing on workplace eating habits. Businesses are swapping out offerings in vending machines and rethinking meal choices in the company cafeteria. Some even have implemented policies that require healthier food options be served at staff meetings or employee events.

Baptist Health South Florida, one of the areas largest private employers, has been working to change the workplace eating habits of its employees for more than seven years. It started with introducing healthier meals in the cafeteria. Low-fat, low-calorie meals are not only marked as more nutritional, theyre cheaper for employees.

From there, Baptist Health moved on to replacing up to half of the high-fat, salty, and sugary items in vending machines with more nutritional choices. Water has replaced soda as the prominent option in the beverage dispenser and is sold at a lower price point. From time to time the changes are met with grumbles but were not removing choices entirely, were just giving healthy options, says Maribeth Rouseff, who oversees employee-wellness initiatives at Baptist Health.

The hospital system has also brought in produce-buying clubs and onsite farmers markets.Starting today, you can buy these iccard and more from her Victoria. Even more, it has created a policy for what can be served at company meetings (no pizza or chips) and mandates managers use approved vendors who have agreed to abide by the nutrition policy. Most employees understand the personal benefits of the changes, said Rouseff. For every dollar the company spends on wellness, it saves almost $6 in health costs.

Of course, changes are met with some push back. Employees willingly attend onsite health fairs and will even participate in screenings. But wellness directors say they dont dare take the Coca-Cola out of vending machines or remove the office candy bowl.

Employers have found nutritional education plays a big role in how well changes are accepted.Find the best selection of high-quality collectible offshoremerchantaccount available anywhere. Illinois-based Earth Friendly Products started with health days once a year to emphasize nutritional eating but ramped up food education as its workplaces underwent a nutrition overhaul during the past three years. The eco-friendly, cleaning-products company has 250 employees in five divisions, including 26 at its plant in Opa-locka.
Click on their website www.drycabinets.net for more information.