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 NSW government plans to encourage people to move away from floodland by offering stamp duty concessions and other subsidies. The government is working on a proposal for residents of flood-ravaged areas such as Lismore to not pay stamp duty if they buy in an area away from floodplains. The plan will be considered by…
![Here are the times when Gains Tax applies to your home | [VIDEO] Ask The Tax Expert – Ken Raiss](https://cdn.propertyupdate.com.au/wp-content/uploads/2018/11/land-tax1-270x200.jpg)
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,…
So, there’s yet another inquiry into housing affordability underway. This latest is called “The House of Representatives Standing Committee on Tax and Revenue inquiry into housing affordability and supply in Australia.” Chaired by NSW Liberal MP Mr. Jason Falinski, it’s getting a few headlines with statements like ‘half the cost of a new house and…
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…
![Best time to renovate a home that will become an investment | Ask the Tax Expert [video]](https://cdn.propertyupdate.com.au/wp-content/uploads/2018/01/renovate-home-270x200.jpg)
When is the most tax-effective time to undertake a renovation? You’ll find out as you watch this week’s Ask the Tax Expert video as Ken Raiss answers Lynda’s question about when is the best time to renovate the new home that she’s buying using a First Home Owner’s Grant. You see…she plans to make her…
A new client recently came to see me. He was a little hesitant at first as he had been using an accountant, lawyer, and financial planner and was apprehensive about the value Metropole Wealth Advisory could give. He left my office almost in tears when he realised the cost of his poor previous advice. Given that…
Over the past decade, many Australians have invested in property via their superannuation funds. One of the reasons they do this is because they want to have control over the performance of the funds in their super. Another is it allows them to buy an investment property when perhaps they could not have otherwise. However, to…
Who doesn’t love their children? We often quickly think of passing our assets to our kids on death. But do we really know who will actually receive them? This is a modern-day conundrum. We don’t know when we are going to die, and as such, do not know our children’s circumstances at that time. They…
Australia is an entrepreneurial country of more than two million small businesses. Perhaps it’s our “give it a go” attitude that sees so many of us decide to take control of our financial futures. Of course, without small businesses, our economy wouldn’t exist given some 97 per cent of all businesses are classified as ones…
What are the Capital Gains Tax implications when you move out of your home and rent it out and then sell it? I love receiving questions from our readers -Victor sent in this one: “I moved out of my principal place of residence, which I’ve been in for seven years, and then rented it out for three…
