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.
It seems that more and more property investors are buying property using their Self Managed Superannuation Funds (SMSF) seeing it as a way of controlling their financial destiny. While this may end up being a rewarding strategy it can also be confusing and that’s why it is critical to get the right advice from an…
Purchasing property will be one of the largest financial decisions of your life so it’s one that should not be taken lightly. But navigating the maze of property purchase is not always as easy as it sounds. Before you sign anything, in fact before you’ve even begun negotiating your offer on a house, you need…
Do you make the most out of your potential tax deductions? Do you keep good records to substantiate your tax claims? Well you should because the ATO regularly targets property investors, so it’s important that you know what you can and cannot claim as a tax deduction. Of course expenses incurred in earning income, such as…
When you invest in property, there are two main types of tax that have the potential to affect your profits. The first type, and one that we all know about because we pay it whenever we earn money, is Income Tax. That is a portion of the income you derive from employment, or investment or…
Many people believe the sale of their main residence will be tax free but that isn’t always the case. A common question a property solicitor is asked is, “If I have more than one property, what sort of things does the Commissioner for Taxation look at in deciding which one is my main residence, and…
No one I know likes to pay more tax than they have to. I know many property investors who begrudge their property taxes and I’ve heard of some pretty “interesting” tax dodges, but would you really divorce just to avoid paying tax? Obviously some people would… I read this piece on ABC news last year explaining…
Our system to maximise your claim Closed circuit television systems, garden watering systems, intercom systems and solar powered generating system assets are all assets which are often missed by property investors when claiming depreciation. These and other missed assets such as door closers, freestanding bathroom accessories, garbage bins, shower curtains and smoke alarms are part…
Foreign owners of investment property in Queensland will be slammed with a 1.5% land tax surcharge on assets with a value of $350,000 or more. The state government is seeking additional revenue in order to maintain a wafer-thin operating fiscal surplus. The Palaszczuk government announced the new measure in its 2017-18 state budget, and said…
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How long did it take you to drive to work today? I’m lucky – it takes me less than 5 minutes becuase I live close to work, but the average commute is much longer than that and it’s getting worse isn’t it?. Some would say we have too many cars on the road already So…
Are there ways to avoid or reduce paying CGT on investment property entirely? Yes, there are! It’s an unfortunate part of every property investor’s journey that they will most likely eventually be liable for Capital Gains Tax or CGT. But there are a few strategies that can help you minimise your CGT when it comes…
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