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Interest Rates, Mortgages and Surplus Income

Should people with a mortgage have a greater focus on making extra repayments? The recent history of interest rates (the RBA target cash rate) in Australia makes for interesting reading – until the Melbourne Cup…

Warning on Investment Loan Redraws

The ATO estimates that incorrect reporting of rental property income and expenses is costing around $1 billion each year in forgone tax revenue. A big part of the problem is how taxpayers are claiming interest…

Sub-Divisions & Tax Implications

You’ve got a block of land that’s perfect for a subdivision. The details have all been worked out with Council, the builders, and the bank. But, one important aspect has been left out; the tax…

ATO doubles rental deduction audits

In the 2017-18 financial year, more than 2.2 million Australians claimed over $47 billion in deductions and the Australian Taxation Office (ATO) thinks that is too much - one in ten is estimated to contain…

Budget 2018: Property Investors

Deductions will be denied for expenses associated with holding vacant land. The Government is concerned that deductions are being improperly claimed for expenses, such as interest costs, related to holding vacant land, where the land…

Changes to GST on Property Developments

If a Bill currently before Parliament passes, from 1 July 2018, purchasers of new residential premises or new residential subdivisions will need to remit the GST on the purchase price directly to the ATO as…

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