amend the Land Tax Act 2000 (Tas) to, among other things, introduce a 2% foreign investor land tax surcharge for residential land acquired on or after 1 July 2022. Note: the measures will not apply to principal residence land held by foreign persons or to commercial residential properties such as hotels, boarding houses, housing provided by educational institutions, residential care facilities and retirement villages; and
The amendments to the Duties Act 2001 will also clarify that for the purposes of the application of the FIDS to SMSFs and testamentary trusts that members of SMSFs have a beneficial interest in the assets of the fund and beneficiaries of testamentary estates have a beneficial interest in the assets of the trust.
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 the mortgage? Scenario...
Principal Place of Residence Exemption Loss if Sold While Overseas 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...
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...
Picture of a vacant block of land to illustrate it may be subject to land tax 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...
Temporary Resident in Australia Suppose you are a temporary resident in Australia and want to purchase a Principal Place of Residence (PPR). In that case, there are restrictions and requirements you must follow, mainly governed by the Foreign Investment Review Board...
Seven changes impacting your super in 2025 Superannuation rules are constantly changing, and 2025 is set to bring some updates that could affect your retirement savings. Whether you’re just starting to build your super or already planning for retirement, keeping up...
What are the tax and investment considerations for a Granny Flat above versus a Tiny Home below? Income Tax Return Reporting - Income Streaming Tiny Homes Tiny home ownership does not have to follow the ownership interest of the underlying property ownership. For...
Secondary Dwelling From December 2023 the Victorian Government has passed planning changes to make it easier to build Granny Flats - or "small secondary dwellings", on existing homes. The Victorian Premier Jacinta Allan revealed that planning permits will no longer be...
The ATO is particularly targeting property investors that are not using the help of a specialist property tax accountant like Umbrella Property Accountant, due to the high error rate being discovered from ATO Audits. The ATO Audits into self-preparers have uncovered...
Latest view to claiming GST on NDIS SDA Properties Read part 1 here (opens in a new tab) investors in NDIS SDA Properties need to An SDA Registered Provider with NDIA having a direct management relationship with the NDIS SDA Participant, as the direct Lessor to the...
