When it comes to tax, unless you are a professional, it can be difficult to navigate your way through the maze. But understanding the basic taxation laws and your rights as a property investor is imperative to the success of your investment career. We’ve made it a little easier for you by providing a guide to all the taxation questions you need answered.
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When you sell a capital asset such as your property, you make either a capital gain or loss. In essence, you make a capital gain when the difference between what it costs you to acquire the property and what you gained from selling it is greater than zero — otherwise, you make a loss. When…
More and more investors, and particularly Baby Boomers, are using their Self-Managed Super Fund (SMSF) as a vehicle to buy an investment property. So I’d like to share some of the most common mistakes I see people making so you can avoid them. 1. Debt Your Self-Managed Superannuation Fund (SMSF) can borrow money to: a) Purchase…
Did you know that you have many options when it comes to deciding the entity that should own your new property? Most property buyers, even seasoned investors, default to simply buying the property in their own name, but this is not always the best and most financially savvy choice. The legally recognised owner of a…
Protecting your hard earned assets is increasingly becoming a common concern especially with the increasingly number of frivolous claims. For centuries people have used trusts to hold assets so as to protect them and to increase their flexibility. A trust is useful in this regard as the individual does not own the asset; it is…
![Here are the times when Gains Tax applies to your home | [VIDEO] Ask The Tax Expert – Ken Raiss](https://cdn.statically.io/img/cdn.propertyupdate.com.au/wp-content/uploads/2018/11/land-tax1-270x200.jpg?quality=70&f=auto)
Generally, you don’t pay capital gains tax (CGT) if you sell the home you live in (under the main residence exemption). And in return you can’t claim income tax deductions for costs associated with buying or selling your home. But sometimes things change. You rent out your home for a while, you subdivide your property,…
There are a growing number of people in Australia wanting to create wealth by undertaking a small property development. Unfortunately, many people attempt it when they don’t have the knowledge or the know-how, and they end up financially worse off than they were before. Others, while clearly capable of managing the project, don’t set up…
Investing in property with your super has been extremely popular over the past few years, hasn’t it? And the reasons why are far more interesting than it just being a bit trendy! The main benefit is that super is an alternative avenue for property investing that has very little impact on personal finances or your future…
Asset protection seems to be a recurring topic with clients over the past few months. Although we are not lawyers the same issues seem to crop up. So let’s have a look at the top issue of asset protection that every property investor should consider: 1. Should I have a will? The answer is yes if…
Trying to get your head around Capital Gains Tax (CGT) can sometimes be like attempting to learn a new language. You think you’re doing alright with it and then someone from that country starts talking to you thinking you’re a local and you end up quite confused and no doubt a little embarrassed. Of course,…
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…
