by Garry Wolnarek | 12 Feb 2022 | Capital Gains, Property Advice, Property Taxation
SMSF and Property Developments have risks! SMSF’s and Property Developments have risks as a trustee you need to understand and document as part of the investment strategy. SMSFs can purchase, developed, or sub-divided real property to sell and or hold to rent...
by Garry Wolnarek | 5 Feb 2022 | Accounting / Bookkeeping, Property Advice, Property Taxation, Small Business, Tax Planning
Property Price Increases and Tax? Property Prices Increase what about taxes? 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...
by Garry Wolnarek | 30 Jan 2022 | Capital Gains, Property Advice, Property Taxation, Tax Planning
Granny Flat or Ancillary Dwelling 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...
by Garry Wolnarek | 25 Jun 2021 | General, Property Advice, Property Taxation
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’...
by Garry Wolnarek | 20 Apr 2021 | Property Advice, Property Taxation
GST Margin scheme guidance enhanced after user mistakes If you sell or develop the property, you may be eligible to use the margin scheme, reducing the amount of GST payable on some property transactions. However, the ATO says it has noticed errors in the two key...
by Garry Wolnarek | 27 Oct 2020 | Insights, Property Advice, Property Taxation
Property Landscaping Tax Deductions? A common question asked by clients! Landscaping work How do I treat for tax the cost of landscaping to improve the value of a property? Landscaping is an improvement to the property and therefore not deductible under section 8-1....