by Garry Wolnarek | 22 Sep 2018 | Capital Gains, General, Property Taxation, Tax Planning
House & Land Development Tax Planning Opportunities Property development has become a way for mums & dads and the like to capitalise on their big backyards, with a small property development subdivision. Those with house lots over 1000m2 have opportunities to...
by Garry Wolnarek | 5 Aug 2018 | General, Property Taxation, Tax Planning
Most will be aware that the 2017 Federal Budget removed depreciation on fixtures and fitting included in a 2nd hand rental property, for example – carpets, window covers, hot water services, ovens, and the like, If purchased post the 9th May 2017. If you have owned...
by Garry Wolnarek | 25 Jun 2018 | Property Taxation, Tax Planning
New Residential Developments Contracts from the 1st July will require the purchaser to pay the GST direct to the ATO. Why? (Phoenix Operators) The Government wants to prevent the loss of GST contributions from “phoenix” operators. Simply speaking, a...
by Garry Wolnarek | 12 Apr 2018 | Capital Gains, General, Insights, Property Taxation, Tax Planning
Buying the land next door can be a great idea to expand your wings while retaining the CGT Main Residence Exemption. We come across clients that have purchased the adjoining block of land, either at the time of the original purchase or some time later for various life...
by Garry Wolnarek | 18 Mar 2018 | Capital Gains, Property Taxation, Tax Planning
Generally we find if a client has held an investment property for a number of years and decides to sell there is the potential for a sizable capital gain and the inevitable capital gains tax to pay. However, we also find it is not uncommon for us when reviewing...
by Garry Wolnarek | 24 Feb 2018 | General, Property Taxation, Tax Planning
Yes, if you are carrying on a business of letting residential rental properties after the 1st July 2017. Generally speaking passive property investor can no longer can claim travel expenses from the 1st July 2017 to:- To collect rent Maintain the property Complete...