by Garry Wolnarek | 18 Mar 2018 | Capital Gains, Property Taxation, Tax Planning
Generally we find if a client has held an investment property for a number of years and decides to sell there is the potential for a sizable capital gain and the inevitable capital gains tax to pay. However, we also find it is not uncommon for us when reviewing...
by Garry Wolnarek | 24 Feb 2018 | General, Property Taxation, Tax Planning
Yes, if you are carrying on a business of letting residential rental properties after the 1st July 2017. Generally speaking passive property investor can no longer can claim travel expenses from the 1st July 2017 to:- To collect rent Maintain the property Complete...
by Garry Wolnarek | 17 Feb 2018 | Capital Gains, Property Taxation, Tax Planning
Opportunity to help family member get into the property market. A child or grandchild may not qualify for a home loan in their own right, however the parents or grandparents don’t want to go guarantor, or want to ensure the child is able to make the commitment to...
by Garry Wolnarek | 26 Jan 2018 | General, Property Taxation, Tax Planning
The introduction of an annual charge (called -a vacancy fee) of at least $5,500 on foreign owners of Australian residential real estate where the property is not occupied or genuinely available on the rental market for at least six months of a year. The main...
by Garry Wolnarek | 16 Dec 2017 | Capital Gains, Property Taxation, Tax Planning
Property development could it be just a “mere realisation of an asset”? A “mere realisation of an asset” implies that the profits made are subject to capital gains tax with the benefit of the 50% discount, whereas otherwise would be seen as an enterprise, and...
by Garry Wolnarek | 5 Nov 2017 | Capital Gains, General, Property Taxation, Tax Planning
Airbnb and the like – There is estimated to be 115,000 properties listed across Australia in 800 towns and cities, generating $441 million in rental income in 2015/16 by 2.1 million people, averaging $119 a night, according to report by Deloitte Access Economics...