Accountants for people who want to grow their wealth

Impact Taxation And Financial Services Pty. Ltd. Is A CPA Practice.
Liability limited by a scheme approved under Professional Standards Legislation.

What our customers are saying...

08:00 10 Nov 23
I had a great experience with Brenda for my tax return! Their expertise and attention to detail made the process smooth and stress-free. They were not only efficient but also took the time to answer all my questions. I highly recommend for anyone seeking a reliable and knowledgeable accountant. Thank you for the excellent service!
Richard ChenRichard Chen
07:08 27 Sep 23
Excellent and Professional Services.Also, the time of email reply is less than one day usually.Furthermore, the ability to communicate in Mandarin has provided great help to newcomers on the complicated tax returns in Australia.I am happy to choose this company to organize my tax return.Awesome Job.
Very impressed with Brenda! She is knowledgeable within her field, she is very dilligent and showed me ways to get a tax deduction that a commoner wouldn't typically think of. I highly recommend her, she was very patient with me as it was my first time and taught me a lot!
Kylie AnsettKylie Ansett
07:31 14 Aug 23
Brenda is a real business asset. Extremely knowledgeable and exceptionally helpful.
Aiden ScottAiden Scott
04:49 13 Jul 23
Excellent service, explained a lot to me about tax stuff I had no idea about, and helped me sort out several years of overdue tax returns that I ended up making money back on! Would highly recommend to anyone who is terrible with tax and money like me
01:14 19 Jun 23
Very impressed at Brenda's level of knowledge, she gave us a lot of ideas that we did not consider. After a session with her we walked away feeling a lot more confident with our finances and structures going forward. Highly recommended she is a delight!
Alicia TippinsAlicia Tippins
07:53 20 Feb 23
Brenda is an absolute delight to work with. She is very knowledgeable, and most of all helps you with understanding and education when it comes to lodging tax returns. Brenda's customer service is next to none, she makes you feel important from the start. Brenda goes above and beyond, I highly recommend her services.
Melinda ZhengMelinda Zheng
05:27 26 Oct 22
Brenda's service is excellent, and her knowledge is very extensive. I booked to see her very last minute and I also needed a rush on my returns, and she was more than accommodating. Plus, she was very patient with all my questions. Highly recommended.
chunli liuchunli liu
22:12 07 Oct 22
Brenda is very patient and knowledgable. Help me and mywife a lot during our tax return. She is also taking data security very seriously. Every time there was documentation exchange, Brenda always use proper way to protect the data. Highly recommended
Xiaopeiwen LiXiaopeiwen Li
01:03 15 Sep 22
Greatest service I ever received. Brenda is super professional and helpful, willing to solve any questions even beyond her normal schedule. Definitely recommended for anyone wants a solid Tax service.
Victoria ZhaoVictoria Zhao
21:57 05 Aug 22
I have a great experience to do the tax return here.Brenda is very profession and knowledgeable, always responsive quickly, explain how I can get the best return.I'd highly recomment her, she's the best tax agent.
Keegan HopaKeegan Hopa
10:24 08 Dec 21
Brenda has been a really great help for us. She was able to book us in last minute and accommodate my partner and I together at the same time. She is very knowledgeable and took the time to explain how we can get the best return for this year and if the future. We will be working with Brenda gladly going forward.

Book a free call with us

Contact us now and find out how we can help you achieve your financial goals.

We provide free 30 minutes consultations for all new clients to show you how to maximize and protect your wealth, where you can save money and how.

So how are we different?


By utilizing multiple tax planning strategies, we can help you to save up to tens of thousands of dollars each year.

In addition to tax services, we also offer Power Planning services designed to assist you in protecting and maximizing your wealth. Our aim is to help you achieve both short-term and long-term financial goals without compromising your lifestyle choices.

Every business or individual’s situation can be different. Our accountants have had years of industry experience as Financial Controllers and Senior Financial Managers. They will help you to navigate your financial affairs with ease and you can rest assured that you are in good hands.


We have our unique tax return templates and process to help you to avoid missing any deductions.

We don’t provide accounting and tax services by merely crunching numbers. We will work in close partnership with you on an ongoing basis to help you strategically achieve your goals.
We know as a business how important saving money is. We will look after your tax affairs carefully and save every dollar you can, at the same time you will never need to worry about an ATO audit.


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We are committed to provide exceptional financial and professional services to meet the current and future needs of our clients, and help them to cultivate long-term success on their financial goals.  To respect our staff and those we serve as professionals and individuals. To establish trust and loyalty between staff members, partners, and the firm’s clients. To create a dynamic, open environment that encourages creative thinking, innovative ideas, and challenges staff to meet their optimal levels of success. To create a harmonious balance between work and family life.


To be recognized as the accounting firm of choice for providing comprehensive financial and professional services to individuals and businesses while providing a working environment where staff members can grow and succeed in the industry.



Address: 3/80 Kitchener Parade, Bankstown, NSW, 2200

Contact Us

Phone :  02 8764 1596

Mobile: 0401 763 675

Email :

Our Hours

MON-SAT: 09:00 – 17:00


10 things you should consider before buying a property

Are you considering buying a property? Do you know you could miss opportunities to save thousands, or tens of thousands of dollars if you don’t plan well before the purchase?

Below are a few key considerations:

1. How should you set up your loan structure? If you don’t have a loan offset account for a rental property, after you make extra payments directly to the loan account, you can only claim interest deduction on the remaining balance of the loan. For tax purposes, this deductible balance can’t be changed even if you redraw the overpaid amount later. A good loan structure could also help you to stabilize interest rate and speed up loan repayment by combining a standard variable loan (with an offset account) and a fix rates account.

2. Timing of renovation. You might want to do a renovation right after you have bought the rental property. But do you know for any genuine repair & maintenance included in the renovation, you can claim an outright deduction against the rental income when the property is available for rental? If the work is done before the date when the property is available for rental, you can only claim the deduction against future capital gain when the property is sold. Depend on when you are going to sell, it could take years or up to decades before you can claim the deduction.

3. How should you split ownership? You might want to share the property ownership with a family member. For tax purposes, the percentage of ownership is based on the legal title, regardless of who is paying more on the mortgage. If the property will give you a tax profit, you might want to allocate more
ownership to the low-income earner to utilize the lower marginal tax rate. If it is giving you a tax loss, you might want to allocate more ownership to the high-income earner to utilize the loss. The goal is for the family to pay minimum tax together.

4. Should you use a family trust to purchase the property? There are many pros and cons related to a family trust. The advantages include tax savings on rental profit or capital gain, asset protection and succession planning on family wealth. However, family trust can’t distribute losses. All losses are trapped in the trust to be used to offset future trust profit. Therefore, you can’t utilize any rental loss in a trust to offset other income such as salary & wages. Family trusts also attract high accounting fees on initial setup and annual fees on financial statements and tax returns. State governments also charge much higher land tax on family trusts.

5. Will the income level change in future years for different owners? You might want to forecast the possible income for different owners to understand total tax payment / savings related to the property. This could also impact on your decision making on point 3 and 4 above.

6. Understand when you can treat your property as main residence to receive an exemption on capital gains tax. When eligible, even if you have received rental income, you could still treat your rental property as main residence and receive the exemption. To be eligible, you will need to treat it as your main residence at the beginning. Please check out this ATO link: Treating former home as main residence.

7. Decide whether you need to purchase a depreciation report. Most taxpayers don’t know that the depreciation on the building will need to be added back to calculate capital gains tax when the property is sold. When the property is held for more than 12 months, after applying the capital gains tax discount of 50%, it will effectively cut the tax rate by half at the time of sales. This makes depreciation deductions desirable for high income earners. However, for low-income earners it might not be ideal to claim depreciation as a rental deduction since they could be paying more on capital gains tax in the future. It could get more complicated if the property is under joint ownership between high and low income earners.

8. You might want to consider Centrelink payments for future or existing owners. Most Centrelink payments are income and asset tested. Before attaching a rental property to a family member who is receiving, or plan to receive government benefits, you might want to check the testing thresholds first to see if the Centrelink payment will be impacted. This is also applicable when you are making distributions from a family trust to different family members.

9. Have you considered using your SMSF (selfmanaged super fund) to make the purchase of a rental property? There are a lot of tax saving opportunities with a SMSF since the income tax rate is only 15%. And the capital gains tax rate is effectively only 10% after factoring in the 1/3 discount. The major downside with a SMSF is normally you can’t get the money out until you retire or on compassionate grounds (SMSF does have more flexibilities compared to normal retail super fund. But the choices are still very limited). It could be expensive to set up and operate a SMSF too. There are also strict legal requirements on the trustees. Penalties on incompliance could be severe. Tax law around SMSF is very complicated too. You will need to find a good tax accountant specialized in SMSF to help you to understand the structure, also do a cost-benefit analysis before setting it up.

10. Consider internal ownership changes. For your existing rental properties, you can also consider whether you should transfer the ownership between family members, or between different business structures (this is not applicable for SMSF). You might want to do this when the income level changes with family members, or rental property changes between tax profit and loss. Before the change, you need to consider the cost of transfer including capital gains tax, stamp duty, conveyancer fees, etc. Again, a cost-benefit analysis is a must before the change.

Last but not the least, did you combine all the above strategies and compare your choices? If you haven’t yet, how would you know that you have picked the best strategy to minimize your taxes? We can help you to factor in all considerations, compare different scenarios, also present you with a Property Prepurchase Report with all our findings to help you to make a decision. Contact us today to book in a consultation with an experienced tax accountant!

This is general advice only and does not consider your financial circumstances, needs and objectives. Before making any decision based on this document, you should assess your own circumstances or seek advice from your financial adviser and seek tax advice from your accountant.

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