NDIS / SDA Housing GST Considerations Typically these types of residential investment properties are built to a much higher standard, but can also attract much higher returns in the order of 10% plus compared to 5% plus you could aim for with a good typical residential investment property. GST Refunds
Yes can claim the tax deduction for money spent on a RAT kit in the following cases: 1. You are required to take a test before undertaking work (e.g., as a mandatory requirement under an employer’s COVID mandate), or2. You are required to travel for work interstate and the RAT
All directors or proposed directors within 12 months of directorships of companies corporate associations & body corporates registered under the Corporations Act. Corporate Trustees for Trusts SMSF Corporate Trustee Need to apply for a Directors Identification Number (DID) asap I am writing to let you know about new legislation that
Many people in Australia receive gifts or loans from relatives overseas. As a result, it is not uncommon for the ATO to scrutinise these transactions to ensure they are genuine and not undeclared taxable income or capital gains. If you are the recipient of a financial gift or loan from
SEQ 2021 COVID-19 Business Support Grant – Open at Midnight 16th August 2021 Targeted Support to who? Queensland Labour State Government is targeting only businesses with unrelated staff for grant support, why? business with related staff only, may be able to manipulate compliance also, such business may be seen to have
When it comes to investment property depreciation, people mostly focus on the building and what’s inside, but the outdoors can be depreciable too. It is important to know that not all landscaping is depreciable; there is a difference in how ‘hard’ and ‘soft’ landscaping is treated in terms of depreciation.
Business in the following industries that make payments to contractors or subcontractors needs to lodge a Taxable Payment Annual Report (TPAR) by the 28th of August each year. Black or Cash Economy Detection The TPAR is a black economy measure designed to assist the ATO to identify contractors who don’t
Individuals Personal income tax cuts Date of effect 1 July 2020 Tax thresholds Tax rate Current From 1 July 2020 From 1 July 2024 0% $0 – $18,200 $0 – $18,200 $0 – $18,200 19% $18,201 – $37,000 $18,201 – $45,000 $18,201 – $45,000 30% $45,001
Income support for individuals & Sole Traders Over the next six months, the Government is temporarily expanding eligibility to income support payments and establishing a new, time-limited Coronavirus supplement to be paid at a rate of $550 per fortnight. This will be paid to both existing and new recipients of
Recently the ATO has publicly advised of a number of instances whereby property developers were jailed for GST and tax payable on property flipping.One, in particular, involved a Victoria woman who has been jailed for 2 years and 10 months for GST fraud of $1.7 million.The women in question Ms
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 else, you must declare rental income and claim expenses
Emerging trends Some single baby boomers are using their home as a money box to sell up, pool resources and move in together. Cooperative living for older people is a well-established movement in countries such as the US and many European countries, with some people successfully living together for decades.
