Tag: Rebecca Mackie
Business – What’s changing on 1 July 2018
Here are the key changes coming up for business on 1 July 2018.
Individuals – What’s changing on 1 July 2018
These are the main changes ahead for individuals from July 1 2018.
CGT and the family home
CGT and the family home: Expats and foreign residents beware! The family home of foreign residents and expats may be taxed if legislation before Parliament is passed by the Senate.
WITHHOLDING GST AS AT 1 JULY 2018
As of 1 July 2018 there is another change to how new residential property sales are treated. Purchasers will now need to withhold GST from the purchase price on behalf of the vendor, and remit it to the ATO.
TAX DEDUCTIONS IN DANGER
A recent Parliamentary Inquiry into Tax Deductions created some fairly sensational headlines about what and how deductions are being claimed – $22 billion worth to be exact.
Subdividing your backyard
Subdividing your PPOR (principal place of residence) is a strategy we often get asked about. If you’re thinking about going down this path, there’s a lot to consider before making your decision.
PROPERTY DEVELOPMENT TAX IN A NUTSHELL
Are you considering a development as your next venture within the world of property? Have you reviewed your potential income tax and GST liabilities?
Holiday House for Rent
You’ve purchased a holiday house and now you need to decide if you keep it for yourselves, or rent it out to help pay for it. There is a lot to consider…
Main Residence Exemption – The Burden of Truth
I would expect that the majority of property owners and investors have heard something about the “six year main residence exemption for Capital Gains Tax purposes”. If not, here is a brief rundown:
UPDATE – Withholding tax on property sales
Last year we wrote an article detailing the new withholding tax introduced for properties sold to foreign residents. For any property sold for more than $2 million after 1 July 2016, the purchaser had an obligation to withhold 10% of the sale price.
2017 Tax Checklists
We have taken the time to prepare comprehensive Tax Checklists, designed to guide you in providing all the correct and relevant information to maximise your tax return.
Investment Properties – Pre & Post 30 June 2017
Anyone with investment property in Australia is probably feeling a little edgy with all the recent media attention on deductions, affordable housing, and negative gearing. We take a look at some of the key tax issues for investors pre and post 30 June: