4 Key Questions to Ask Before Hiring a Property Accountant

Let’s be real—property investment isn’t just about buying and selling real estate. It’s about strategy, smart tax planning, and maximising your returns. And that’s exactly why having the right property accountant is crucial.

But here’s the problem: not all accountants understand property investment. If you choose the wrong one, you could miss out on thousands in deductions, pay more tax than necessary, or make costly financial mistakes.

So, before you hire a property accountant in Australia, ask these four key questions to make sure they’re the right fit.

1. Do You Specialise in Property Investment?

This might seem like a no-brainer, but many investors assume all accountants understand property tax. The truth? Many general accountants only handle basic tax returns and business finances. They don’t necessarily have expertise in property-specific tax strategies.

Would you want someone with no experience in property investment handling your financial future? Probably not.

A great property accountant should know the ins and outs of capital gains tax, depreciation, negative gearing, and tax-effective property structures. Without this knowledge, they could be costing you money rather than saving it.

Ask them how many property investors they work with. Do they actively help clients structure their portfolios for tax efficiency? Can they provide real-life examples of how they’ve saved investors money? Their answers will tell you whether they truly understand property investment.

2. What Strategies Do You Use to Minimise Tax?

Paying tax is unavoidable, but overpaying is. The right accountant won’t just lodge your tax return; they’ll actively work to reduce your tax liability in legal and strategic ways.

So, ask them: What strategies do they use to maximise deductions? Can they help you claim depreciation on your investment properties? Do they understand how to offset rental losses against other income?

A proactive property accountant should be able to explain how they can help you lower your taxable income through smart structuring and planning. If their answers are vague or they only focus on compliance, they might not be thinking strategically enough.

3. How Do You Stay Updated on Property Tax Law Changes?

Australian tax laws are constantly evolving. What worked last year might not be effective this year. That’s why it’s critical to have an accountant who stays ahead of these changes.

Ask them: How do they keep up with updates in property tax laws? Do they attend industry seminars? Are they part of professional tax organisations? Do they follow ATO updates and property tax reforms?

An accountant who doesn’t stay informed could be missing out on new deductions, grants, or tax-saving opportunities. And if they’re not up to date, you could be the one paying the price.

4. Can You Help Me Plan for the Future?

Property investment is a long-term game. It’s not just about managing tax each year—it’s about creating wealth over time. The best property accountants don’t just look at the present; they help you build a strategy for the future.

So, ask them: Can they help you structure your portfolio for long-term growth? Do they offer advice on asset protection? Can they guide you on the best way to sell or transfer your properties in a tax-efficient way?

If an accountant only focuses on short-term tax returns without considering your broader investment goals, they may not be the right fit. You need someone who sees the bigger picture and helps you make strategic financial decisions.

The Bottom Line

Choosing a property accountant in Melbourne isn’t a decision to take lightly. The right one can save you thousands, protect your investments, and help you grow your portfolio. The wrong one? They could leave you overpaying tax and missing out on key financial opportunities.

Before making your choice, ask these four key questions. Their answers will reveal whether they’re the expert you need to maximise your property investments—or just another accountant who doesn’t fully understand the game.

Your investments deserve more than just basic number-crunching. Find an accountant who will help you build wealth, not just file your tax return.

How to Save Money with the Right Accountant?

Let’s be real—no one likes to pay more tax than necessary. Yet, every year, thousands of Australians do just that. Not because they are careless but because they are missing one crucial piece of the puzzle: the right accountant.

Think about it—when was the last time you sat down and truly analysed your business expenses, tax deductions, and financial strategies? If you’re like most business owners, you’re probably too busy juggling day-to-day operations to focus on the finer details of tax planning and cash flow management.

Here’s the hard truth: without a skilled accountant on your side, you’re likely leaving money on the table. And in today’s economy, every dollar counts.

So, how exactly can the right accountant help you save money? Let’s break it down.

1. Strategic Tax Planning – Keep More of What You Earn

Nobody wants to overpay on taxes, yet many businesses and individuals do simply because they don’t have the right strategy in place. A good accountant does more than just lodge your tax return—they actively look for ways to minimise your tax liability within the legal framework.

How does tax planning save you money?

Maximising Deductions: Are you claiming every deduction available to you? Many business owners overlook legitimate deductions that could significantly reduce their taxable income.

Tax Structuring: The right business structure—whether it’s a sole trader, partnership, company, or trust—can impact how much tax you pay. A knowledgeable accountant will ensure you’re set up in the most tax-efficient way.

Avoiding Penalties: Late or incorrect lodgements can lead to hefty fines from the ATO. Having an accountant ensures compliance and avoids unnecessary penalties.

2. Cash Flow Management – Never Run Out of Money Again

Ever felt like you’re making decent revenue but somehow never have enough cash when you need it? Poor cash flow management is one of the biggest reasons businesses struggle financially—even profitable ones.

A great accountant won’t just tell you how much money you’re making; they’ll show you where it’s going and how to keep more of it.

How can a tax accountant in Australia help with cash flow?

Forecasting & Budgeting: They help you anticipate future cash needs so you’re not caught off guard by unexpected expenses.

Expense Tracking: Identifying wasteful spending can free up significant funds. You’d be surprised how much money leaks through unnecessary costs.

Debt Management: If your business relies on loans or credit, an accountant can help you structure repayments efficiently to avoid excessive interest payments.

3. Financial Modelling & Forecasting – Plan for Growth, Not Just Survival

Do you know where your business will be in five years? Or are you just taking things as they come? Without a clear financial roadmap, you could be making decisions that hurt your long-term profitability.

A skilled accountant can create financial models that show different scenarios—what happens if you expand, increase prices, or cut costs? These insights help you make informed decisions rather than just guessing.

Why does this matter?

Helps identify potential risks before they become problems.

Ensures your business is financially sustainable, not just operational.

Gives you clarity on whether an investment or expansion is the right move.

4. Cost Control – Stop Wasting Money

If you don’t actively track your expenses, chances are you’re spending more than you should. It’s easy to justify small costs here and there, but over time, they add up.

An accountant helps you identify areas where you can cut costs without sacrificing efficiency.

Where can an accountant help you save?

Supplier & Vendor Costs: Are you overpaying for services? An accountant can analyse contracts and suggest renegotiations.

Operational Expenses: From rent to subscriptions, they help you eliminate wasteful spending.

Payroll Optimisation: Ensuring your staff costs are balanced with business revenue to avoid unnecessary financial strain.

5. Business Structuring – Set Yourself Up for Success

Your business structure isn’t just a legal formality—it directly affects your tax obligations, liability, and financial flexibility. The right structure can save you thousands in tax, while the wrong one can lead to financial inefficiencies and unnecessary expenses.

How does structuring impact your savings?

Lower Tax Rates: Companies and trusts often have lower tax rates than sole traders, depending on income levels.

Asset Protection: The right structure protects your personal assets from business risks.

Flexibility for Growth: Some structures make it easier to bring in investors or expand operations.

6. Do You Need an Accountant Even If You Use Accounting Software?

You might think, "I use Xero or MYOB—why would I need an accountant?"

Sure, accounting software makes tracking numbers easier, but it doesn’t replace expert advice. Software can’t provide tax strategies, analyse financial trends, or find ways to cut costs.

How to Choose the Right Accountant for Maximum Savings

Not all accountants are created equal. If you want real financial benefits, you need someone who does more than just file paperwork. Here’s what to look for:

Experience in Your Industry: Different businesses have different financial needs—find someone who understands yours.

Proactive Approach: The best accountants don’t just react to financial issues; they help you prevent them.

Strong Tax Knowledge: Tax laws change frequently—your accountant should be on top of every opportunity to save you money.

Clear Communication: If they confuse you with jargon, they’re not the right fit. Your accountant should simplify financial matters, not complicate them.

The Bottom Line – Is Your Accountant Saving You Money?

If your accountant isn’t actively helping you keep more money in your business or personal finances, you’re with the wrong one. The right accountant doesn’t cost you money—they save you money.

So, ask yourself:

Are you overpaying on tax?

Do you have a solid cash flow plan?

Are you making strategic financial decisions backed by expert advice?

If the answer to any of these is no, it’s time to find an accountant who will help you change that. Because in business, every dollar saved is a dollar earned.