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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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…
You thought we no longer had death duties but call it something else and we can see that the tax man can get a slice of your superannuation on your death if it goes to certain people. Everyone who has children knows that the Bank of Mum and Dad is an institution that runs 24/7…
![Attention Property Investors - The Tax Man is after you! | ASK THE TAX EXPERT Ken Raiss [Video]](https://cdn.propertyupdate.com.au/wp-content/uploads/2019/02/land-tax-270x200.jpg "CASE STUDY: The cost of poor advice. Paying CGT on the sale of the home")
Will your investment property make you a TARGET for the tax man? Attention property investors: your friends at the Australian Taxation Office might be taking an a much closer look at your tax return than you will be comfortable with this year … Assistant tax commissioner Gavin Siebert said the tax office has made property…
The thing about property investing is that eventually you, or your beneficiaries if you hold for the extremely long-term, will likely have to pay Capital Gains Tax (CGT). WHAT IS THE CAPITAL GAINS TAX? HOW MUCH IS IS THE CAPITAL GAINS TAX? HOW TO CALCULATE YOUR CAPITAL GAIN? HOW TO AVOID THE CGT BY LIVING…
Once you have bought your home, there are ways that you can minimise the interest you pay over the life of the loan. This can include making additional lump payments or repaying the loan fortnightly instead of monthly. One of the most popular ways, however, is to establish a mortgage offset account, which will reduce…
Smart property investors use all the legal tax rules to minimize their cash flow leakage and maximise their deductions. The government encourages property investors to provide accommodation for those who need it by offering them a range of tax benefits. While most investors know about the typical tax deductions, such as interest on loans, repairs and management fees,…
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…
With the end of financial year coming up soon, I thought I would provide some general tax strategies for property investors to consider: 1. Documentation: Keep summaries of all your rental income and expenses. This is much easier if you have your property manager looking after your property where they pay all expenses and collect all income….
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…
The end of the financial year is upon us once again and it can be an especially busy time for investors. So, with 30 June just around the corner, here are a number of issues that retirees and property investors must understand beforehand. 1. Superannuation After the age of 60, many investors opt to reduce…
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