Ken is director of Metropole Wealth Advisory and gives strategic expert advice to property investors, professionals and business owners. He is in a unique position to blend his skills of accounting, wealth advisory, property investing, financial planning and small business. View his articles
What happens when you dissolve a trust? Do you need to pay stamp duty and Capital gains Tax is you then transfer the trust’s assets to your personal name. That’s the question I was recently asked by a reader of Property Update – so here’s the Q&A Question: I bought a warehouse/office in the mixed-use…
Are you a company director? Maybe a director of the corporate trustee of your family trust? Then you should know that the Government recently passed Bills to amend the Corporations Act 2001 to introduce a ‘Director Identification Number’ (DIN). What is a DIN for? This means that all company directors will be required to prove…
There are special capital gains tax (CGT) rules you need to know if you’re a foreign resident for tax purposes. These rules will impact you when you sell residential property in Australia. The Australian Taxation Office has lots of information on their website to help you understand some recent changes that affect your taxation obligations…
There have been changes to the taxation legislation to limit deductions that can be claimed by property investors for holding vacant land. These changes received royal assent on 28 October 2019 and apply to costs incurred to hold vacant land on or after 1 July 2019, even for land held before that date. But since many investors…
Are you wondering how your changed circumstances related to COVID-19 may affect your tax situation? Well, you’re in good company. The Australian Taxation Office has provided a lot of information on their website to assist you. Here’s a list of the most frequently asked questions they are getting from individuals and employees as well as…
The Australian Taxation Office is aware that residential rental property owners may be concerned about how COVID-19, floods, or bushfires have reduced their income. This may be a result of tenants paying less or entering deferred payments plans, or travel restrictions which have affected demand for short-term rental properties. New legislation also affects the tax…
The recent strawberry sabotage by a reportedly disgruntled employee – and potentially others who appear to have simply jumped on the bandwagon for some terrible reason – is a timely reminder of the importance of business insurance. With many businesses facing difficult economic times due to rising costs, increasing competition as well as changes to consumer…
Knowing what tax deductions you’re entitled to claim is key to maximising your return on investment – but that’s only half the battle… We have all heard the old saying about death and taxes being the only two certainties in life. This may not be the case when you take superannuation into account but that…
There are more than two million property investors in Australia but many of them never get past owning one property. And those who manage to buy a number of investment properties often hit a growth brick wall because of lending issues or poor asset selection. However others struggle to achieve their financial goals because they…
The end of the financial year has now come and gone but investors still need to plan for the year ahead. Some investors look forward to this, while others try to ignore it for as long as possible. Why is that? In my experience, those investors who file their tax returns sooner rather than later…
