by Garry Wolnarek | 4 Jul 2017 | Property Taxation, Tax Planning
Foreign property investors to pay more land tax and stamp duty Starting with the Victorian Budget on 5 May 2015, the majority of states in Australia have implemented surcharges on foreign investors in the residential property markets. Below are tables that will assist...
by Garry Wolnarek | 4 Jul 2017 | General, Tax Planning
Taxation Determination TD 2017/19 – The Commissioner has set out the amounts considered to be reasonable in relation to claims made by employees for the 2017/18 income year for: • overtime meal expenses — for food and drink when working overtime • domestic...
by Garry Wolnarek | 8 Jun 2017 | General, Property Taxation, Tax Planning
The ATO has issued a media release warning taxpayers not to make incorrect tax claims for rental properties, particularly holiday homes. Compliance is a problem in this area where deductions for holiday homes are claimed even if the property is not genuinely being...
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 | 26 May 2017 | Small Business, Tax Planning
If you have a family trust that will distribute the net profit to beneficiaries for the 2017 financial year, you need to create and sign a trust resolution by the 30th June 2017. A Trust Resolution is a statement of intention to distribute the profits to the...
by Garry Wolnarek | 23 May 2017 | Small Business, Tax Planning
Family trusts vs SMSFs With major changes to superannuation rules, family trusts had previously been overlooked as a wealth management tool as investors incorrectly believed that the benefits / investments would be largely eroded via a family trust. While at the same...