by Garry Wolnarek | 23 Oct 2022 | Capital Gains, Property Advice, Property Estate
When the deceased person’s home has a mixed history of being a principal home and a rental, combined with the fact the estate sells the otherwise principal home after 2 years, the CGT is not so easy to understand for the family left to deal with how and if CGT...
by Garry Wolnarek | 12 Feb 2022 | Capital Gains, Property Advice, Property Taxation
SMSF and Property Developments have risks! SMSF’s and Property Developments have risks as a trustee you need to understand and document as part of the investment strategy. SMSFs can purchase, developed, or sub-divided real property to sell and or hold to rent...
by Garry Wolnarek | 30 Jan 2022 | Capital Gains, Property Advice, Property Taxation, Tax Planning
Granny Flat or Ancillary Dwelling Granny flats and ancillary dwellings have grown in style and versatility becoming an increasingly popular housing option as they allow families to downsize closer to their family and friends, and provide extra space for older children...
by Garry Wolnarek | 8 Jan 2020 | Capital Gains, Property Advice, Property Taxation, Tax Planning
New tax laws were proposed as part of the 2018 federal budget to deny tax deductions on the costs of holding vacant land, that has now been passed and come into effect from the 1st July 2019. These new laws apply regardless of when the land was held, (no...
by Garry Wolnarek | 27 Oct 2019 | Capital Gains, Property Advice, Property Taxation, Small Business, Tax Planning
Flipping houses can be a great way to make a living or a handy lump of cash quickly, however it involves Finding the right propertyFinancing can be on a short-term basisGetting the number rightExecuting the makeover and selling in the shortest time possibleGetting the...
by Garry Wolnarek | 7 Sep 2019 | Capital Gains, General, Property Advice, Property Taxation, Tax Planning
After 20 years plus of preparing rental property tax returns, I’ve come up with my list of the “Top 10 Rental Property Tax Return Mistakes”. 1. Co-owned properties – Apportioning expenses and income If you own a rental property with someone...
