As a property investor, you should remember that your tax return could give you some extra funds that you could use to pay down your mortgage or invest in another property. Here is a list of things that …
ReadAre you a non-profit organisation? Did you know that some types of non-profit organisations are taxable while some are exempt from income tax? Know whether your organisation is required to lodge an income tax return or not. Non-profit …
ReadThose who want to buy or sell a property in Australia for $750,000 and above should know the Capital Gains Tax Withholding rules. From 1 July 2017, sellers are required to provide the buyer a “clearance certificate” from …
ReadDo you make gifts or contributions to politicians and political parties? Did you know that in some cases, your gifts and contributions to independent candidates and political parties may be claimed as income tax deductions? You can claim …
ReadThe government has recently released a draft legislation, detailing the proposed plant and equipment depreciation changes as announced last May. The draft provided information about an investor’s eligibility to claim depreciation. The government has allowed the public to …
ReadAfter a disaster, those who make donations to a relief appeal can claim it if the receiving organisation is endorsed as a deductible gift recipient (DGR), which is entitled to receive tax-deductible donations. If you donate to a …
ReadBusiness taxpayers operating as sole traders or partners in partnership, should know that special rules relate to business losses. These rules apply equally to Australian and foreign taxpayers. Taxpayers may claim losses against other taxable income, only where …
ReadDid you know that the ATO has a guide for tax deductions available to fitness and sporting industry employees? If you are a fitness and sporting employee, you should find out whether you are eligible to claim a …
ReadAustralians often have a mistaken belief that CGT relief may come at a price because of a misconception about the timing of these tax events and funds which were segregated before 30 June. Funds that paid an account-based …
ReadIf you are selling your home, you can claim the main residence tax exemption for the property you live in, including the land adjacent to it and other structures associated with the property like a separate garage or …
ReadAustralians who consider making super contributions starting July 2017 should know that the annual concessional before-tax contributions cap will be a lot lower than previous years, dropping to $25,000 for all from $30,000 for people under 50, and …
ReadThere can be profound implications for not carefully considering all options in a Will. A Will can’t do more or less than the legislation allows and cannot give away what you do not own. It is a legal …
ReadIn our financial planners views, here are some EOFY and post July 1 strategies. If you can, you should consider maximising your concessional contributions, which you make on a pre-tax basis. This is a superannuation guarantee which you …
ReadWith the end of the financial year fast approaching here are a few key items that are worth reviewing before 30 June 2017: Bad Debts If you are on an accrual basis, you will be paying tax on …
ReadTax time makes many of us nervous, fearing that we may end up owing the Tax Office some money. But, how would you feel if Chan & Naylor can get some money for you from the bank? As …
ReadProperty investors have always asked the age-old question, House or Apartment – which is the better investment? So let’s take a closer look. Capital Gain Land is the most valuable asset and a rare commodity. If you …
ReadStarting July 1st 2017, more Australians will pay double contributions tax (15% + 15%) because of the lowering of the income threshold from $300,000 to $250,000. Those with adjusted taxable income of over $250,000 will have extra …
ReadThe most important thing to a Residential property investor is cash flow. The investor requires a return to fund the holding costs of the property. Over its lifetime things like repairs and maintenance, council rates, water rates, strata …
ReadAn individual’s strategy is just as important a factor to consider when claiming the deductions available from an investment property as it is to obtain a comprehensive depreciation schedule outlining all of the depreciation that can be claimed. …
ReadDividends are sums of money paid regularly (ideally on a quarterly basis) by a company to its shareholders out of their profits. But do you know that there are 2 types of dividends? Here are 2 types of …
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