Tax

Authoritative and technically accurate information and guidance on all areas of tax

Four rental property deductions under scrutiny this tax season

This tax time the Tax Office is specially targeting excessive or inappropriate deductions made by rental property owners. The Tax Office on its Building Confidence webpage has listed four problem areas where landlords may be incorrectly or inadvertently claiming property deductions that don’t suit their circumstances. They’ve also included case studies so that landlords can

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Consumption taxes: How do we compare?

The recently issued government paper Re:think suggested a review of the goods and services tax (GST) system, including increasing the rate applied beyond the current 10% as well as the range of items it applies to. While we all know that GST is levied at 10%, and that fresh food, health and educational products and

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Negative gearing: A polarising issue that won’t go away

Australian governments across the political hues see no need to touch negative gearing.  It is a mechanism that exists within the fundamentals of Australia’s tax system anyway — a deductibility of interest on borrowings made to undertake an investment.  It is nothing more than a specific case of the general principle that the expenses incurred

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