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…
Why ‘property flipping’ is the next ATO target
The tax law does not allow you to ‘flip’ a property tax-free even if you are living in it. Most people think that they can move in to a property, renovate it, and then sell…
Investment Property Tax Changes
Anyone with investment property in Australia is probably feeling a little edgy with all the recent media attention on deductions, affordable housing, and negative gearing. We take a look at some of the key tax…
Capital Gains & Property: Q&A
The thought of the Australian Tax Office (ATO) sharing up to 50% of any gain you make on an investment decision is enough to strike fear into the hearts of most people. Given Australia’s love…
