Money & Mindset - Book of the Month November 2025
- meliaprojectsau
- Nov 20
- 4 min read
I’m a big believer that the best investors are lifelong learners. Each month, I’ll share a book that’s made me stop and think, whether it’s a new strategy, a fresh perspective, or just a better way to look at money and investing.
My goal? To help you learn from the wins (and mistakes) of others so you can invest smarter, with more confidence. Think of this as your money & mindset shortcut to sharper thinking and better decision-making, one book at a time.
Property Secrets of the Rich: A Practical, Tax-Smart Approach to Building Long-Term Wealth
When it comes to building wealth through property, few topics are as misunderstood or as underestimated as tax planning and investment structure. Allan Mason, an experienced tax accountant (who was at one stage Kerry Packer's accountant), property investor and financial educator, has spent decades helping Australians understand how the tax system really works and how to use it legally and effectively to help secure their financial future.
With a career deeply rooted in taxation, wealth creation and property strategy, Mason brings a unique perspective: wealth isn’t just about the properties you buy it’s about how you own them, how you plan for tax and the structures you put in place long before settlement day. Mason's writing is conversational and straightforward, distilling years of client experiences and practical lessons into a guide designed to help everyday people avoid costly mistakes while building long-term financial security.
The Overview
Property Secrets of the Rich is divided into five parts that walk readers step-by-step through the real foundations of wealth creation.
Part 1 explores why property is a strong vehicle for wealth, the importance of tax planning, and ten practical mindset tips for breaking out of the “poverty trap.” It also tackles the common question: should your first property be a home or an investment?
Part 2 outlines strategies tailored to different life stages — from your 20s through to 50+ — including how to use negative gearing effectively, the different types of investments available, the power of compounding (especially the “never sell” philosophy), and what investors should avoid based on real client mistakes.
Part 3 presents case studies showing how everyday Australians have built wealth using their home, residential investment properties, or commercial portfolios — and how tax positioning played a critical role in each outcome.
Part 4 focuses on structures: trusts, companies, joint ownership, and more. Mason breaks down how different structures affect tax payable, risk exposure, and long-term outcomes.
Part 5 delivers practical tax tips: from principal place of residence concessions, duplex strategies, and backyard subdivisions to rental property deductions, ATO data matching, and end-of-year planning. He finishes with mindset advice and “the ripple effect”: the idea that smart financial decisions today benefit not just you, but your family for generations.
It’s not a hype-driven property book. It’s a grounded, practical, tax-smart approach to building wealth.
Key Lessons for Money & Mindset
1. Tax planning is the foundation of wealth creation
Wealth isn’t created by the property alone — it’s created by the after-tax position of the property. The wealthy plan their tax outcomes from day one.
2. Your structure matters more than you think
Whether you hold a property in your own name, a trust, a company, or jointly can dramatically impact long-term tax, borrowing, and asset-protection outcomes.
3. Different life stages require different strategies
Your 20s, 30s, and 40s+ bring different goals, borrowing capacities, and risk levels. Mason shows why copying someone else’s strategy rarely works — and why “age-appropriate investing” is essential.
4. Compounding rewards patience
Long-term compounding from rental income, tax benefits, and capital growth is one of the most powerful forces in wealth creation. Mason strongly advocates a “never sell” mindset for this reason.
5. Mistakes are expensive
The book includes real stories of investors who bought the wrong property, used the wrong structure or made tax decisions without advice and how those choices cost them thousands. Learning from other people’s mistakes is one of the biggest takeaways.
How You Can Apply These Lessons
If you’re serious about building long-term wealth through property, Mason’s insights can be applied immediately:
Get your tax advice early - before contracts are signed.
Choose the right structure from the start; changing it later is often costly or impossible.
Match your strategy to your life stage - don’t rush, and don’t copy others blindly.
Focus on long-term gains - not short-term wins. The compounding effect takes time but is incredibly powerful.
Keep records, stay organised and understand what you can claim - maximise legal deductions.
Learn from case studies - both the successes and the failures to avoid repeating common mistakes.
For busy professionals and business owners, these principles are especially valuable. A well-structured portfolio can grow quietly in the background while you focus on your career or business.
Final Thoughts
Property Secrets of the Rich is a refreshingly practical and grounded take on property investing. Mason focuses on what actually matters: tax planning, long-term thinking, smart structures and a patient approach to building wealth.
If you want to improve your financial literacy especially when it comes to Australian taxation and property, optimise your investment decisions and ultimately avoid costly mistakes, this book is one of the most useful and actionable guides available. It’s especially valuable for anyone who wants to build wealth sustainably, getting smart and working with the system without overcomplicating the process or relying on guesswork.
Have you read this one already? Tell me what you think!
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