Category: Property
The ATO examines property investors as deduction issues increase
The ATO has issued a warning to property investors this tax time following rental income and deduction errors found in over 70 per cent of tax returns audited last financial year.
Tax exemption for ‘granny flat’ arrangements
To protect older Australians, the Government has moved to formalise ‘granny flat arrangements’ by providing an incentive to protect all parties in the arrangement.
PAYG Income Tax Withholding Variation
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.
HomeBuilder Grant supports new house builds and renovations
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.
CGT and the family home: expats and foreigners excluded from tax exemption
Late in 2019, legislative changes were made that exclude non-residents from accessing the main residence exemption.
Purchasing Property In Trusts In Victoria
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%.
Claiming travel expenses for a rental property
Since 2017, the rules surrounding property travel expense claims have been different for residential and commercial properties.
How to save land tax with effective structuring.
Land tax is an absolute killer when it comes to investment properties.
Is negative gearing always the best way to invest?
Understandably, there is a lot of hype around negative gearing. It is a highly beneficial investment strategy, after all.
Vacant land deduction changes hit ‘Mum & Dad’ property developments
The amendments are not only retrospective but go beyond purely vacant land.
SMEs Must Speak To Both Their Accountant And Broker Before Purchasing Property
Most importantly, the accountant and broker should have a strong relationship because the two areas are much intertwined.
Rental Property Expenses – What You Can And Can’t Claim
It’s not uncommon for landlords to be confused about what they can and can’t claim for their rental properties.