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Investing in Commercial - API Article
Most property investors are comfortable with residential property, having owned or rented themselves, but commercial property investment can be a little more daunting. The main reason for this is that there are so many additional factors to consider, such as GST, complicated leases and who’s responsible for the outgoings (expenses) for the property.
... read moreTrusting Tax - API Article
Trusts have been around for centuries, since the days of knights and round tables and have played many different roles over the years. They can prove an integral tool in your investment and business journey, if used correctly.
... read moreTax implications of renovating for profit - API Article
We’re regularly asked about the tax consequences of renovating to sell for a profit and the answers and issues that may arise often surprise clients. Here’s some information on renovating for profit and the significance of substantial renovations.
... read moreUsing the Margin Scheme When Selling New Residential Property
When building new residential property with the intention of selling for a profit, the biggest consideration, apart from income tax, is GST.
Following on from last month, where we discussed the tax consequences of different types of developments, this month we take a more in-depth look at how you can use the ‘Margin Scheme’ to reduce your GST liabilities.....
... read moreTaxing Developments - API Article
In recent months I’ve had a number of conversations with clients who are building new residential properties, a couple intending to keep the property and rent it out and some intending to sell for a profit. When I informed these clients of the potential tax implications of selling, they were ...
... read moreLand Tax - The Good, The Bad and The Ugly - API Article
When you buy your first (or even second) investment property, land tax is likely the last thing on your mind. Even less likely if you’re buying a new family home and have decided to keep the old one and rent it out. With land tax rates skyrocketing in some states over recent years, this can be a nasty surprise.
Land tax is imposed by all state and territory governments in Australia, except for the Northern Territory. It’s based on the cumulative value of all unimproved land that you own, other than .....
... read moreHoliday House Rules - API Article
You’ve purchased a holiday house and now you need to decide if you keep it for yourselves, or rent it out to help pay for it. There’s a lot to consider…
If you don’t like the idea of someone else using your holiday house and you won’t rent it out, there are still a few things to remember. All the holding costs for the property can be used to reduce .....
... read moreDont forget depreciation!
As the end of the financial year is creeping up on us, we would like to remind you to get your depreciation schedules prepared so that you can claim the cost of having it prepared in your 2014 return. You will then have the report ready for when we prepare your 2014 return. Don’t forget that ....
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