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 | 12 May 2017 | General, Property Taxation, Tax Planning
Foreign and temporary tax residents will not be able to claim the CGT main residence exemption from budget night 2017 (7:30pm AEST on 9th May 2017). However existing properties held prior to this date will be allowed an extension until 30th June 2019 to still claim...
by Garry Wolnarek | 16 Apr 2017 | Property Taxation, Tax Planning
I see merit in the the principal of “non commercial losses”, that losses could be quarantined, carried forward to be used when property investments are profitable / commercial. This would be in keeping with the idea that property is a longer team...
by Garry Wolnarek | 13 Mar 2017 | Property Taxation, Tax Planning
In many of Brisbane’s older suburbs land was subdivided into 16 perch blocks (ie.404 m2) and homes were built sometimes on just one of them or sometimes across two, three or even four of them. In these latter cases these homes usually only have one title document but...
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 | 14 Nov 2016 | Property Taxation, Tax Planning
Joanne Black, a property developer, bought land in May 2015 (Post GST Start 1st July 2000) for $300,000 and constructed a house on it. In March 2016, she sold the house and land for $1,100,000. Joanne was registered for GST and incurred the following costs: Land at...