by Garry Wolnarek | 16 May 2020 | Covid-19, Property Advice
Renta Property Tax Returns affected by COVID-19 Frequently asked tax questions for rentalproperties affected by COVID-19 My tenants are not paying their full rent or have temporarily stopped paying rent because their income has been adversely affected by COVID-19. Can...
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 | 14 Dec 2019 | General, Property Advice, Property Taxation, Tax Planning
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...
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...
by Garry Wolnarek | 20 Jul 2019 | Capital Gains, Property Advice, Property Taxation, Tax Planning
Property Spruiker Seminars do your own research. With interest rates so low, and property prices in many capital cities have come back in value, coupled with rising rents in selected areas. Property Spruikers are coming out of the woodwork to make their perennial cash...