Many people like to get a big tax refund at year end, but why wait for your refund? Why not get it now? The ATO allows you to do just that.
The HomeBuilder scheme is a time-limited, tax free cash grant intended to support the residential construction industry during the COVID-19 pandemic, but it does come with an extensive eligibility criteria.
Late in 2019, legislative changes were made that exclude non-residents from accessing the main residence exemption.
The SRO have recently announced that any discretionary trust purchasing property in Victoria will need to have an express beneficiary exclusion clause to avoid the additional purchaser duty of up to 8%.
Since 2017, the rules surrounding property travel expense claims have been different for residential and commercial properties.
Land tax is an absolute killer when it comes to investment properties.
Understandably, there is a lot of hype around negative gearing. It is a highly beneficial investment strategy, after all.
The amendments are not only retrospective but go beyond purely vacant land.
Most importantly, the accountant and broker should have a strong relationship because the two areas are much intertwined.
It’s not uncommon for landlords to be confused about what they can and can’t claim for their rental properties.
It is estimated that one in ten returns will contain errors in the 19/20 year.
There are a few crucial things to consider before making the purchase.