Assistance with Property Acquisition includes mortgage application support, document preparation, and navigating the property buying process efficiently.
When acquiring property, the process involves more than just finding the right property—it also requires careful management of financial and tax-related documentation. As an accountant, we assist clients with the relevant financial documentation needed for property acquisitions, particularly when working alongside mortgage brokers to secure the best financing options. We focus on preparing accurate and timely documentation to support mortgage applications, ensuring that all tax compliance requirements are met, and helping smooth the approval process.
✅ Preparation of Income Statements – We prepare accurate income statements for clients, detailing their earnings and financial position, which is crucial for mortgage lenders to assess borrowing capacity.
✅ Financial Statements – We compile balance sheets, profit and loss statements, and other financial documents to provide an accurate picture of the client’s financial situation, aiding mortgage brokers in presenting a comprehensive case to lenders.
✅ Tax Returns – We provide recent tax returns (usually for the last two years) to verify income and ensure lenders have the correct data when assessing loan applications. This is essential for clients applying for home loans or investment property financing.
✅ BAS Preparation – For clients running businesses, we ensure that Business Activity Statements (BAS) are prepared and up to date. Mortgage brokers typically require the most recent BAS to verify the cash flow and the stability of a business owner’s income.
✅ Quarterly/Annual BAS Reports – We work closely with clients to ensure that quarterly or annual BAS submissions are correct and ready for submission, making it easier for mortgage brokers to meet lender requirements.
age broker can present realistic loan options based on the client’s actual financial position.
✅ Tax Obligations and Liabilities – We help ensure that all tax obligations are up-to-date and that there are no discrepancies in tax filings, which can be a concern for mortgage lenders.
✅ Rental Income and Expense Reports – For clients acquiring investment properties, we prepare detailed rental income reports and expense breakdowns to assist mortgage brokers in demonstrating the financial viability of the investment.
✅ Property Depreciation Schedules – We assist in providing the necessary property depreciation schedules for investment properties, which mortgage brokers often need when presenting the client’s property portfolio to lenders.
✅ CGT and Tax Considerations – We assess and provide details on the capital gains tax (CGT) implications for investment properties, helping the mortgage broker understand the tax position in relation to the property acquisition.
✅ Personal Tax Returns for Buyers – We ensure clients’ personal tax returns are correctly prepared and compliant with the ATO, providing the necessary documentation to lenders when applying for personal loans or home mortgages.
✅ Business Tax Returns – For business owners, we prepare business tax returns that reflect the financial health of the business, which is required by lenders for loan applications.
✅ Streamlining Document Flow – We prepare and provide all relevant documentation in a clear, organized format, making it easier for mortgage brokers to submit the necessary materials to lenders.
✅ Clear Communication with Brokers – We work alongside mortgage brokers, ensuring they have all the documentation needed for a smooth and timely mortgage application process. This includes tax records, financial statements, income verification, and other relevant documents.
