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Property investment tax
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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Tax and Helpful Record Keeping Tips for your Rental Property
Property Investors are targeted each year by the ATO so it’s important that you know what you can and cannot claim as a tax deduction. Expenses can only be claimed if it’s spent on your investment property. However expenses are broken into categories and claimed in 2 different ways: 1. Capital costs An example are those...
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The Tax Man Is Watching You
Currently A.T.O. is focusing on rental properties, and more specifically the common mistakes people make when claiming on them. The Australian Taxation Office is paying particular attention to: higher than expected rental interest expense claims, and holiday homes that are not genuinely available for rent. They are warning property investors that if you are claiming...
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Investors could claim over $2.2 million in depreciation for each apartment in The Block.
An analysis from Australia’s specialist depreciation schedule provider suggests that investors could claim an average of over $2.2 million in depreciation deductions for each apartment on Channel 9’s 2016 season of The Block. Kim and Chris’s penthouse apartment has the highest amount of depreciation deductions available, with a first year deduction estimated to be at...
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11 Ways Property Investors Can Ease The Pain Of A Tax Audit
Imagine you just received a letter from the ATO advising they will be conducting an audit of your tax affairs. For many this is a daunting task and dare I say it; even a visit to the dentist is looking better. With an increasing number of ATO audits it is imperative that as a property...
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You Receive Notification From The ATO About A Tax Audit – What Now?
You have a Tax Audit, so what now? We are noticing that there has been a marked increase in Audit activity by the ATO over recent time. Everyone dreads the thought of an ATO Audit but it doesn’t have to be that stressful, especially if you know how to handle the situation. Firstly if you...
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Explainer: the difference between tax avoidance and evasion
Tax minimisation, tax avoidance and tax evasion – what the difference? Which is legal and which isn’t? By: Roman Lanis, University of Technology, Sydney and Ross McClure, University of Technology, Sydney Within the current discussion of corporate tax there are a number of terms used to describe the corporate strategies and behaviours involved, such as “tax...
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Maximising returns on your property portfolio – a simple deduction
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...
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The top 5 issues with asset protection
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...
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