by Garry Wolnarek | 20 Mar 2023 | Joint Venture Agreements, Property, Property Developers, Property Taxation, Small Business, Tax Planning
Joint Venture tax understanding for property developers in Australia Joint Venture Agreement 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...
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 | 1 Mar 2021 | Accounting / Bookkeeping, General, Small Business, Tax Planning
Small Business Clients Business in the following industries that make payments to contractors or subcontractors needs to lodge a Taxable Payment Annual Report (TPAR) by the 28th of August each year. Black or Cash Economy Detection The TPAR is a black economy measure...
by Garry Wolnarek | 7 Oct 2020 | General, Tax Planning
Individuals Personal income tax cuts Date of effect1 July 2020 Tax thresholdsTax rateCurrentFrom 1 July 2020From 1 July 20240%$0 – $18,200$0 – $18,200$0 – $18,20019%$18,201 – $37,000$18,201 – $45,000$18,201 –...
by Garry Wolnarek | 8 Jan 2020 | Capital Gains, Property Advice, Property Taxation, Tax Planning
New tax laws were proposed as part of the 2018 federal budget to deny tax deductions on the costs of holding vacant land, that has now been passed and come into effect from the 1st July 2019. These new laws apply regardless of when the land was held, (no...
