by Garry Wolnarek | 31 May 2017 | Capital Gains, Property Taxation, Tax Planning
CGT discount increased for affordable housing investors From 1 January 2018, the capital gains tax discount will be increased from 50% to 60% for resident individuals who invest in affordable housing. This measure was included as part of the housing affordability...
by Garry Wolnarek | 26 Jan 2017 | Capital Gains, General, Property Taxation, Small Business, Tax Planning
The average Southeast Queensland backyard is being split at a rapid rate by “mun and dad” investors. The Courier Mail has revealed the number of lots being approved for subdivision in Southeast Queensland has doubled in the past 5 years. Subdivision of...
by Garry Wolnarek | 31 May 2016 | Capital Gains, Insights, Property Taxation
A client inherited a property from her late parents which was used as their Principal Home. The parent’s family home has been transferred to her as part of the estate. The two year period is now coming due as such she needs to determine what are the...
by Garry Wolnarek | 14 Dec 2015 | Capital Gains, Property Taxation
A humble home with a hefty price tag. This plain Jane house at 65 Woodbury St, North Rocks, sold under the hammer this year for $1.17 million — $210,000 over the reserve. IT WAS once an exclusive...
by Garry Wolnarek | 19 Sep 2015 | Capital Gains, Property Taxation
Why are valuations in property transactions important for tax? There are times when a valuation is necessary for tax purposes. For example, let’s say that Mr Smith transfers his rental property to his daughter Mary for no consideration. The tax law, specifically the...
by Garry Wolnarek | 15 Jul 2015 | Capital Gains, General, Property Taxation
If an Australian resident moves overseas and becomes a non-residence for taxation purposes, they can still access the Principal Place of Residence (PPR) exemption for Capital Gains Tax (CGT) indefinitely if they don’t rent out their PPR in Australia. Provided...