4 Quick Rules To Overcome Tax Audit

If you are an investor/entrepreneur Tom Wheelwright has some tips for you below:

One of the biggest fears people have is a tax return audit. The key to surviving an audit is not to panic but to be prepared. Here are the rules I follow to do this.

Rule #1: Neatness Counts

The government has a right to look at your records and neatness counts. Messy records could mean more digging – and more digging means more findings.

Auditors are fairly easy to work with if records are well organized and neatly presented, which gives them no reason for further investigation.

Be prepared to show that your tax return is based on well-kept records.

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Rule #2: Expect Scrutiny

Certain expenses will always be scrutinized.

Here are a few expenses that are regularly scrutinized during an audit:

  • Home office
  • Travel
  • Meals
  • Vehicle
  • Education

Expect these expenses to be scrutinized. Prepare your documentation as you incur the expenses so you have the proper documentation in place.

Rule #3: Use a System for Your Documentation

Systems provide tremendous leverage. If you have a system in place for your documentation, it will take less time to get your documentation in place and your documentation will be more accurate.

Many people wait until they are audited to put the proper documentation in place. This is a costly move as it often ends up in poor documentation and expenses being disallowed.

Here’s an example of a system I use for my documentation.

I go to lunch with my business partner to discuss a new product.

I pay with my credit card and get a receipt.

I write notes on the receipt about who was there and the business discussed.

I give the receipt to my assistant who scans it to a PDF file format.

My assistant pulls my credit card activity online every week and verifies I have handed in receipts for all the charges. If there are receipts missing, my assistant tracks them down. The summary of charges and the receipts are then saved in a single PDF file.

The PDF file is forwarded to the bookkeeper. The bookkeeper records the credit card activity in QuickBooks and files the PDF file in a designated area.

With this system, if an auditor needs to see my documentation for that lunch, I know exactly where it is. The best part – I’ve spent very little time on it.

This system works because I follow it every single time I use my credit card – it works for all expenses, not just lunch. This is why I make it a point to always use my credit card.

Occasionally I have to pay with cash so I have a system for that too.

Rule #4: Do Not Go at It Alone

If you are audited, do not go at it alone. Have your tax advisor involved from the very beginning.

An audit can be highly technical and your tax advisor is someone who has studied the tax law and is well versed in the language of the tax law. Your tax advisor can easily handle all the questions and issues that may arise and translate any confusing details back to you.

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Real estate is a product not a marketing business

Many people get the concept wrong, they think that real estate is a business but we say that real estate is a product.So our business model in real estate is incredibly simple because we focus on marketing for three things outlined below:

  • We find deals or negotiate great deals with property investors on behalf of clients.
  • We market to find dollars.

What we do is we create a flow of deals  by constantly searching for motivated sellers or distressed situations in real estate. We then wholesale a real estate deal  to  find the dollars simply by finding a buyer who is ready to buy the small apartments.

Sometimes we hang on to a deal for couple of months to get a good ROI from a private investor who will invest in the project.This means that our role will be that of an overseer, an asset manager, where we receive passive income or appreciation.

  • We find residents

Finally, on our buy and hold properties, we are marketing to find residents. The ability to keep an apartment full with paying residents is how we create ongoing cash flow and increased equity – due to forced appreciation. Remember, cash and cash flow comes from marketing for deals, dollars, and residents.

Right now, our partner has negotiated a good deal of small and luxury apartments with a developer in Brunswick West Melbourne. The developer is accepting bank guarantee or deposit pond with 5% cash rebate incentive on settlement. Currently there are only 3 more sales left.

If you want to Build a Real Estate Empire, everything starts here!

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Do Not Lose Your Important Data

Let this not happen to you….In 2013 while writing my assessment for the final exam at Victoria University of Wellington, my desk top computer crashed and lost all my saved assignment and other documents.
I had to  write to my lecturer to give me an extension  to re-write my assignment. I had to lose 10% marks for late submission.In 2016 I bought  an HP lap top to use for my online business. For an unknown reasons, my laptop could not start up, it was dead and lost all my documents including copyright file,campaign and many other important stuff you may think of. I tried to take to IT specialist, the cost to repair was as good as buying a new one.

So I opted to buy another laptop in 2017. This worked for 7 months. I did not bother to  do anything, I was frustrated and hit myself!

Until  I came across the GotBackUp  information this year.
I read all the reviews about this software and I was convinced it was a great solution to backing up my important data. So don’t lose your important data!

Here are the features:

  1. Backup all your photos, music, emails, videos, documents & more!
  2. Automatically backup your computer silently in the background to the cloud without you having to do anything.
  3. Log in to view all of your files online from any web browser. Browse them just like you would on your PC.
  4. Your online files are encrypted with military grade encryption to keep them safe in our online cloud.
  5. There is no limit on your transfer speeds or bandwidth. Our data centers have super fast connectivity.
  6. Works both on Mac and Windows computers. (Requires Windows XP or later, and Mac OS X 10.6 or later)
  7. Access your cloud on their mobile site. They have apps for iPhone, iPad, Android, Chrome OS and Windows 8.
  8. If you have a genuine desire and 15 minutes a day, you can start making great money from this program called Got Backup.

P.S In fact,  my team is producing so many sales for this program that the owner (Joel Therien) has a special offer for you to get a Founder’s position when you join through the link below (this gets you setup for the most profit).

Click here to join Got Backup now!


I have GotBackUp

Building Wealth Through Property Investing Event

In partnership with EK Property Group, C J Investiment are holding an event on Tuesday 25 September 6.30-8pm at Sage Wollongong hotel, NSW.


If you are looking to break those barriers  and become financially free, this is an event you don’t want to miss.

You will learn;

  • See how investing in property can help pay your home off in half the time.
  • How much does an investment property actually cost to hold.
  • Properties which are $100k under market value.
  • Identifying tax reduction strategies you can take advantage of.


Send details  and a registration form will be sent to your inbox

Best Area to Invest

If you are thinking of investing in real estate, look no further than Melbourne. Statistics by CoreLogic indicates that Melbourne has the upper hand in property values than most of the major cities in Australia.

Over the 2017-18 financial year, Melbourne dwelling values increased by 1.0%. Although values rose for the sixth consecutive financial year, it was the slowest rate of growth out of any of those six years and well down on the 13.0% increase over the 2016-17 financial year.

Melbourne and regional Vic annual change in value

Throughout regional Vic dwelling value growth actually accelerated throughout the financial year from an increase of 4.8% in 2016-17 to 5.0% in 2017-18. The 5.0% increase in values over the year was the greatest financial year increase in values since 2010-11 when values rose by 6.1%.


The above 1 bedroom apartment in Grove area with 1 garage,1 study room, is going for only $520k.These apartments are selling like hot cakes at the moment.


  1. High Rental Demand

    – due to Professional Migration of workers closer to the CBD.

    1. Low vacancy rates of 1.8%
    2. Strong Rental yield averages 4.25% pa.
    3. Population Increase of The City of Moreland over 25% (50,000 people) in the next ten years
    4. Perfect Local Demographics for renting –

                 i.    50% work in management or professional roles,

                 ii.    40% of the population are aged between 20 to 39,

                iii.    30% of the population are single.

2.     Excellent value:

a.    In comparison to other suburbs of equal proximity to Melbourne CBD – 10% Bigger Apartments & 10% lower prices.

b.    The Grove is better value compared to competing projects by up to 16.2% (ie. the York next door)

3.     Strong price growth of 7.45%

4.     Extensive Amenities:

a.      Health Club – commercial size & equipped; Private dining room; Two outdoor BBQ areas and two Outdoor seating area; Bocce field; Table tennis Area; Communal; Spa; Business Centre.

b.    Amenities Attract Residents and Renters – enhancing lifestyle, increasing rental return and reduces turnover.

c.    Café’/Restaurant – Axel Coffee Roasters provides a major draw card as one of Melbourne’s preeminent Café Operators.

5.     Prime Location/Transport:

a.    6km to CBD — under 10 minute commute, Melbourne University & RMIT both 12 min commute

b.    Public transport to CBD — Albion Street, which The Grove has frontage on to has a tram stop (2 min walk), bus stop (30sec walk), train stop (15 min walk) and bike trail (one min away) all that take you directly to the CBD

c.    Freeway very accessible, 4 minute commute.

With this project, the developer will be giving you a $60k rebate at settlement ($30k on each property). This rebate can assist you to pay down and cancel any credit card debts , personal loans and also pay for  stamp duty. What is required now for this is a 10% deposit ($52,000.00) for each lot. The remaining balance and loan will be applied for in roughly May 2019, 2 months prior to settlement. This is when you will receive the rebate. This $30k cash back was only on offer until the EOFY, but you can negotiate with the developer. This property is a great investment in a fantastic location to start your portfolio. As this is not complete until about 1 year’s time, this gives you an opportunity to get your finances in order before you have to apply for finance.

If you want to get in touch, provide details on this link and we shall connect you to appropriate person for inquiries.


Special Webinar on how to multiply your money for life!

This coming Thursday we have a special  guest speaker with 18 year of experience in Network Marketing Business, willing to share with you the skills she has gained on how you can multiply your earnings from any source and multiply it for the rest of your life. It’s a FREE webinar, packed with bonus and content! Jot it into your calendar and don’t miss it! Last webinar was phenomenal, classic and full of excitement!Join me this Thursday @ 8:00 PM EDT(Friday 8 AM Perth Time)

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Meeting ID: 447 312 382

International numbers available: https://zoom.us/zoomconference


International Time Zone Available:      https://www.worldtimeserver.com/


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Discover How You Can Easily Benefit in 7.7 Trillion Property Market In Australia

Recently, DG Institute held a webinar on the new trend in the real estate industry, 2018.

As you may know, the government gets its revenue from the property driven economy.

The more people build houses, the more they  pay taxes  to the government and interests to the banks.

One would argue that the housing market has not been doing well over the last 5 years.

Data shows that there is much activity going on in this $7.7 Trillion real estate industry and this has been driven by many factors:

  • Job creation in WA(9.8% job will be created in the mines)
  • Population growth  in WA creating demand in most of the satellite  surbarbs
  • Migration growth, many people are migrating to areas where houses are more affordable and where they can find jobs.

This is good news for property investors especially here in WA.

If you want to learn more, with permission from DG Institute you can listen to the recorded webinar by clicking on this link 

Be in the know from Dominique Grubisa!

P.S Turn $200 into $200,000 from your Smartphone

Stop Tipping The Tax Man

If you own an investment property and you have had  it professionally assessed for depreciation allowance, chances are you are paying too much tax.

Expert define depreciation  as a tax deduction available to property investors.

Your investment property basically earns you an income as a form of rent from your tenants. Any activity that  brings an income in one form or the other is termed as an income.

As an investor,  there are many tax deduction that are available to you for example, these are things you have spent money on such as:

  • Property management fees
  • Council rates and other miscellaneous items used at the property

Depreciation allows you to claim a tax deduction for the wear and tear on your investment property over time.This is legal and the tax office recognise this type of tax deduction in that the building  itself, as well as the plant and its equipment that include the air-conditioner,blinds,carpet  will eventually  become worn out over time and need to  be replaced. Even if the items were purchased by someone else- a developer or previous owner, you can continue to claim deduction as they continue to depreciate in value.


Depreciation basically reduces your taxable income by far.

Who can issue a depreciation report?

After buying my second property, I  thought accountants or real estate agents could prepare the depreciation report. Unfortunately these are not qualified according to  the ruling issued by Australian Taxation Office, only quantity surveyors are the only ones qualified professional to prepare a report.

Here in Australia, the best company that has such resources to prepare such reports are Washington Brown Group Company, located in Sydney.

They can help you maximise your tax savings:

Washington Brown are experts in tax depreciation for investment properties and accredited quantity surveyors. They will prepare an ATO compliant depreciation report on your property outlining the legal depreciation allowances you’re entitled to claim.

They have a strong track record.
The’ve assessed over 110,000 properties for tax depreciation allowances Australia-wide.

Important note:
Most investment properties qualify for depreciation and you can backdate your tax return if you have not been claiming or maximizing your entitlements!

We have developed very strong relationship such that our clients receive $100 discount if they request Washington Brown Services as you can see below:

C J Investiment clients:
Use the application form  on request and get your report for $660 GST inc! (usually $770.)