Property development could it be just a “mere realisation of an asset”? A “mere realisation of an asset” implies that the profits made are subject to capital gains tax with the benefit of the 50% discount, whereas otherwise would be seen as an enterprise, and subject to tax as
The average Southeast Queensland backyard is being split at a rapid rate by “mum and dad” investors. The Courier Mail has revealed the number of lots being approved for subdivision in Southeast Queensland has doubled in the past 5 years. Subdivision of lots approved have increased from 9332 in 2012
Prepaying expenses up to 12 months ahead are allowed as a deduction in the earlier year. In this case 2014. Prepaying expenses increases your deductions, reducing your tax. Most people prepay the following types of expenses – Rates – Council & water – interest – Body Corporate Fees –
