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Tag Archive 'tax'

In the 2017-2018 Federal Budget handed down by Treasurer Scott Morrison on the 9th of May 2017, the Government proposed changes to the Taxation Laws. From 1 July this year, all travel deduction relating to inspecting, maintaining or collecting rent for a rental property – previously allowable – will be disallowed. This is relevant for […]

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With the aim of improving housing affordability for first home buyers, the Victorian Government has announced several changes to stamp duty costs. From July 1 stamp duty will be entirely abolished for first home buyers purchasing a property valued below $600,000. Discounts will also be available for property purchases between $600,000 and $750,000 on a […]

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Australian residents buying or selling real property with a market value of $2 million or more need to be aware of new rules which come into effect on 1 July 2016. Details released by the Australian Tax Office (ATO) on May 19, 2016 Assistant Commissioner Malcolm Allen said Australian residents who are selling a taxable […]

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It’s tax time, and every dollar you can claim on an investment property will benefit your financial position. The Australian Tax Office has recently introduced a series of helpful online videos aimed at helping investment property owners understand their tax obligations and provides information on possible tax deductions. Here are five examples of ways to […]

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Many rental properties owners across the country are benefiting from depreciation claims. But what does this mean exactly? The Australian Taxation Office (ATO) recognises that even though property prices generally rise, the structure and contents of a building lose value over time. It seems counter intuitive but this form of ‘depreciation’ provides a tax break […]

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Tax Depreciation Report

A tax depreciation report or schedule is an absolute must for any smart property investor. Nearly all properties can be depreciated, yet many of these are not claimed during tax time. This generally means more money for the taxman and less in your back pocket! Tax depreciation (also known as property depreciation) is a legitimate […]

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Tax time is rapidly approaching. It’s an opportune time for property investors to assess their plan and gather greater tax knowledge. Structuring – It’s quite common for investors to purchase a property in their own name because they have not investigated the other structures available. If you purchase a residential property in your own name, […]

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A BIG chunk of Australia’s 1.75 million real estate investors could earn themselves thousands of extra dollars each year by taking a closer look at their tax deductions. It is estimated at least half of investors do not claim all possible depreciation-related deductions. For a new, median-priced house, these can typically be $8000 to $17,000 […]

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The Australian Tax Office (ATO) has identified a number of common mistakes in the tax returns of many rental property owners. Their website devotes an entire page to outlining these tax issues The common errors include the following: Claiming the purchase cost of the land component as part of the cost of constructing the rental […]

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  Many small businesses operate from the owner’s home. This could mean the factory is a shed in the backyard and the office a corner of the kitchen or dining room table. For others the business can have a separate section of the home or permanent structure on the property used exclusively by the business. […]

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