by Garry Wolnarek | 7 Sep 2019 | Capital Gains, General, Property Advice, Property Taxation, Tax Planning
After 20 years plus of preparing rental property tax returns, I’ve come up with my list of the “Top 10 Rental Property Tax Return Mistakes”. 1. Co-owned properties – Apportioning expenses and income If you own a rental property with someone...
by Garry Wolnarek | 20 Jul 2019 | Capital Gains, Property Advice, Property Taxation, Tax Planning
Property Spruiker Seminars do your own research. With interest rates so low, and property prices in many capital cities have come back in value, coupled with rising rents in selected areas. Property Spruikers are coming out of the woodwork to make their perennial cash...
by Garry Wolnarek | 22 Apr 2019 | General, Property Taxation, Tax Planning
Single Baby Boomers Cooperative Living Emerging trends Some single baby boomers are using their home as a money box to sell up, pool resources and move in together. Cooperative living for older people is a well-established movement in countries such as the US and many...
by Garry Wolnarek | 17 Mar 2019 | Capital Gains, General, Property Taxation, Tax Planning
Subdivide the backyard We are getting a number of inquiries from people living on large blocks of land, (i.e.) 800m2 plus in suburbia, or areas surrounding, looking to subdivide for various reasons some of the lands, to help fund things like:- major renovations to...
by Garry Wolnarek | 2 Mar 2019 | Capital Gains, Property Taxation, Tax Planning
No CGT discount for non-residents, however former Australian residents will get a pro-rata discount. From 9 May 2012, the 50% CGT discount allowed for gains made by individuals is reduced for any periods in which the taxpayer has been a...
by Garry Wolnarek | 29 Jan 2019 | Property Taxation, Tax Planning
A luxury property developer who caused a loss of $3.4 million to the Commonwealth through GST fraud has been sentenced to six years’ jail after an ATO investigation. Mr Ensor’s conviction came after an ATO investigation found he had structured his companies to...