Understanding the New ATO Guidance on Holiday Homes and Tax Deductions The ATO has withdrawn its 40-year-old ruling on holiday homes and replaced it with new draft Taxation Rulings and Practical Compliance Guidelines. These changes tighten the rules on claiming deductions for owning holiday homes, focusing on whether the property
Navigating a Deceased Estate: Avoiding Property Capital Gains Tax Mistakes Losing a loved one is difficult. This practical guide explains deceased estate tax rules in plain English—helping families avoid costly CGT mistakes and unnecessary stress. Managing a deceased estate can feel overwhelming. You’re dealing with grief, legal paperwork, and tax
Moving NZ to Australia With a NZ Rental Property Including Temporary Residency, PR Pathways & CGT Planning Prepared for: John & Mary Prepared by: Garry Wolnarek – Tax Agent Purpose: Provide a clear, client-friendly explanation of how Australian tax applies to your NZ rental property depending on your visa status,
In our October Newsletter 2025, we identify the red flags of superannuation scams and navigate the complex rules for claiming electric vehicle (EV) car expenses. We also break down the powerful small business CGT retirement exemption, explain the often-overlooked disadvantages of family trusts, and clarify the tax on redundancy payments.
If you’re like many property investors in 2025, you might be wondering: How can I create reliable income and growth without overextending myself? You’re not alone — we hear this from clients every week. One proven answer is the granny flat strategy. Adding a granny flat isn’t just about creating
New Residential Seller Disclosure Requirement in Qld from 1st August 2025 What Property Sellers and Their Advisors Must Know Introduction Buying or selling a home in Queensland is about to undergo significant changes. From 1 August 2025, sellers will face new legal obligations to disclose important property details upfront —
Considering a SMSF setup before 30 June 2025. Pause.If there are no contributions or assets in the fund, you could be triggering thousands in avoidable compliance costs, all without gaining any strategic benefit. Why timing matters for SMSF setup Setting up an SMSF late in the financial year may feel
⚠️ Important Timing Considerations – Especially Around Financial Year-End Scenario Overview ???????? BUYER (Grantee of Option) ✅ CGT Acquisition Date ???? Cost Base for the Buyer ????️ The 50% CGT discount will only apply if the asset is sold on or after 10 August 2025. ???????? SELLER (Grantor of Option)
[et_pb_section admin_label=”section”] [et_pb_row admin_label=”row”] [et_pb_column type=”4_4″][et_pb_text admin_label=”Text”] Main Points Considered A New Zealand Citizen living in Australia, do they qualify for the First Home Owners Grant (FHOG) Also, can they qualify for the First Home Owners Stamp Duty Concessions What if they rent out the spare bedroom to help pay
Summary of how the Principal Place of Residence (PPR) Exemption is impacted by moving overseas. When Australian homeowners move overseas and become non-residents for tax purposes, selling their principal residence (PPR) can lead to significant capital gains tax (CGT) liabilities. Since 1 July 2020, non-residents have generally been ineligible for
[et_pb_section admin_label=”section”] [et_pb_row admin_label=”row”] [et_pb_column type=”4_4″][et_pb_text admin_label=”Text”] Having an investment property prior or posted to it being a principal place of residence has tricky CGT Calculations. Capital Gains Tax (CGT) is an essential consideration for property owners when selling a property used for different purposes over time. This blog outlines
What is Land Tax? Land tax is a state and territory-imposed tax on the unimproved value of taxable land owned by individuals, companies, and trusts. It is calculated annually based on a threshold value determined by each state or territory. The tax applies to investment properties, commercial land, and vacant
