property

GST and the sale of vacant land

  A frequent query from tax practitioners who contact Tax & Super Australia’s member-only helpline service is whether a sale of a vacant block of land would be subject to GST. In this worked example, we walk through a scenario where a taxpayer disposes of a vacant block of land on which residential property was

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Can an SMSF invest in property development?

The ATO has been sending some mixed messages about property development involving an SMSF, and has indicated that it is one of the issues on its radar for 2018. So is property development an allowable investment for an SMSF? The short answer yes, but be careful. A longer answer is be very careful — it

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ATO’s top 10 tips for rental property owners common tax mistakes

The ATO has issued a list of tips that should help rental property owners avoid what it has found are their 10 most common errors. It says that avoiding these common mistakes will save many taxpayers time and money. A downloadable PDF of this advice is available for you to distribute to clients (click here).

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