property

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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GST and the buying or selling of real estate premises

Whether a sale of property is subject to GST will be dependent on a number of factors. The sale of real property must be made in the course or furtherance of an enterprise before it is brought into the GST system. One way to explain the relevant considerations is through an example: Alan, a sole

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Your landlord clients need to be prepared to lose this deduction

New legislation recently tabled in Canberra puts a measure first announced with the last Federal Budget closer to reality. Your landlord clients need to be prepared to lose this deduction The Treasury Laws Amendment (Housing Tax Integrity) Bill 2017 (you can read the details here) solidifies the government’s intention to deny all travel deductions relating

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The income tax implications of property lease incentives

Lease incentives are commonly used by landlords to entice tenants to enter into a lease. The most common type of lease incentive relates to new tenancies in commercial buildings. These inducements can take many forms, including upfront cash payments, non-cash items such as motor vehicles or boats, expensive paintings, holiday packages, rent-free or rent-discounted periods

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Common errors of new rental property owners

Putting your money into bricks and mortar has been a traditional stalwart of investing for generations of Australians, and continues to be viewed as a solid place to park spare cash and build wealth in the long term. For many years a lot of us seem to have heeded the quote attributed to Mark Twain:

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