With the advent and steady growth of the self-managed superannuation fund (SMSF) sector, superannuation professionals are steeped in discussion about financial services automation and where it will lead. Some believe automated advice will be the next huge innovation, but it’s proving to be a divisive frontier.
Taking the work of human accountants, financial planners and leaving it to machines and complex algorithms sounds a little dystopian — which is probably why the concept has been dubbed “robo advice” — but companies like FinDigital want trustees and advisers, to consider the potential positives of the model. A recent survey found investors both young and old are warming to the idea…..Read More
Recently the ATO has publicly advised of a number of instances whereby property developers were jailed for GST and tax payable on property flipping.One, in particular, involved a Victoria woman who has been jailed for 2 years and 10 months for GST fraud of $1.7...
After 20 years plus of preparing rental property tax returns, I've come up with my list of the "Top 10 Rental Property Tax Return Mistakes". 1. Co-owned properties - Apportioning expenses and income If you own a rental property with someone else, you must declare...
Single Baby Boomers Cooperative Living Emerging trends Some single baby boomers are using their home as a money box to sell up, pool resources and move in together. Cooperative living for older people is a well-established movement in countries such as the US and many...
Subdivide the backyard We are getting a number of inquiries from people living on large blocks of land, (i.e.) 800m2 plus in suburbia, or areas surrounding, looking to subdivide for various reasons some of the lands, to help fund things like:- major renovations to...
Trusts tax reform set to go ahead under Labor After first being announced in 2017, Labor’s proposed tax for discretionary trust distributions is shaping up to be a key election issue. About two years ago, opposition leader Bill Shorten announced that Labor would...
New market research indicates about 900,000 interest-only loans will revert to principal and interest payments this month, following a tougher year on the mortgage market for property investor clients. Comparison site finder.com.au drew this estimate from an analysis...
Labor's Negative Gearing - limited to New Construction Labor may implement tax policies of negative gearing restrictions, reduction of the CGT discount, and ending excess dividend imputation if it wins government next year. If you hold any investments you may be...
The Property Capital Gains Tax Identifier will help those selling an investment property or their home that was used partially to derive income or operate a business from, determine if any capital gains tax is applicable and an indication of how much capital gains...
House & Land Development Tax Planning Opportunities Property development has become a way for mums & dads and the like to capitalise on their big backyards, with a small property development subdivision. Those with house lots over 1000m2 have opportunities to...
Most will be aware that the 2017 Federal Budget removed depreciation on fixtures and fitting included in a 2nd hand rental property, for example – carpets, window covers, hot water services, ovens, and the like, If purchased post the 9th May 2017. If you have owned...
