What are the tax and investment considerations for a Granny Flat above versus a Tiny Home below? Income Tax Return Reporting – Income Streaming Tiny Homes Tiny home ownership does not have to follow the ownership interest of the underlying property ownership. For example, the principal main property may be
From December 2023 the Victorian Government has passed planning changes to make it easier to build Granny Flats – or “small secondary dwellings”, on existing homes. The Victorian Premier Jacinta Allan revealed that planning permits will no longer be required to build small secondary homes on their properties. “Too often,
The ATO is particularly targeting property investors that are not using the help of a specialist property tax accountant like Umbrella Property Accountant, due to the high error rate being discovered from ATO Audits. The ATO Audits into self-preparers have uncovered nine out of ten tax returns reviewed were filed
Gold Coast – Example of the Housing Rental Competing Forces Many Apartments are sitting empty most of the year, including an entire beachfront tower. Gold Coast mayor Tom Tate cited an entire high-rise sitting empty in the triple tower Jewel development at Surfers Paradise as an example of the level
New Land Tax Thresholds – COVID-19 debt – land tax surcharge Landholdings between $50,000 and $100,000 will have to pay an extra $500 annual fee on top of the increased land tax levy. Landholdings between $100,000 to $300,000 will pay an extra $975 annual fee on top of the increased
Joint Venture tax understanding for property developers in Australia What is a (JV) for Property Development A joint venture (JV) is a cooperative agreement between two or more parties in which all parties contribute their resources (such as money, skills, and assets) for the purpose of achieving a common goal.
A federal Labor government would deliver a $329-million help-to-buy scheme, providing 10,000 Australians with a government guarantee of up to 40 per cent on new homes or 30 per cent on existing homes with a two per cent deposit.
What is the NDIS / SDA? NDIS The National Disability Insurance Scheme is a Federal Act developed in 2013 to allow people with a disability to exercise choice and control about matters that affect them- such as their housing. SDA – Specialist Disability Accommodation Typically, these are otherwise residential properties built
SMSFs can develop, or sub-divided property to sell or hold to rent out. Property Developments can help build wealth quickly for retirement.
Property Price Increases and Tax? Residential properties values have increased in some cases over 30% in the last year, what does this mean for owners and investors? Family Home If the property being sold is the family home and it qualifies for the main residence exemption, then the owner can
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 and extended family. In addition, provide potential cashflow investment options now or in retirement,
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.
