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Property and Lifestyle Assets Under the Spotlight
Do you own an investment property or perhaps a luxury asset like a boat or aircraft? The ATO is examining your tax return to ensure that what you declare adds up. The Australian Taxation Office (ATO) has introduced two crucial data-matching programs targeted at...
Property and Lifestyle Assets Under the Spotlight
Do you own an investment property or perhaps a luxury asset like a boat or aircraft? The ATO is examining your tax return to ensure that what you declare adds up. The Australian Taxation Office (ATO) has introduced two crucial data-matching programs targeted at...
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A Guide to Stamp Duty and Land Tax
Stamp Duty and Land Tax Calculator We would like to remind all our clients with investment properties about their land tax obligations. It can be very confusing as each state varies in terms of threshold, rate applicable depending on ownership structure and the date...
Are you Thinking about Building a New Investment Property?
Are you thinking about building a new investment property? With the numbers proving that new properties hold the most depreciation deductions, building new is a popular choice. Understanding construction costs can provide a ballpark figure of what to expect when...
This Renovation Tip can Save you Thousands
This renovation tip can save you thousands Renovating an investment property is different to renovating your own home. Whether the renovation is big or small, you will be taking a head over heart approach and doing what will help you improve your return on investment....
Perth Property Outlook 2020
The Perth Property Market Outlook - Update It’s been a unique year for Perth’s property market as WA has navigated the impacts of COVID-19. While garnering national attention in early 2020 when four consecutive months of price growth indicated the progression of...
Federal Budget 2020 | Aged Care Updates
Enhanced access, quality and safety in aged care The 2020-21 Budget provides a record level of $2.0 billion support into aged care over four years to progress reforms to deliver improved outcomes for consumers and providers. Support for consumers includes: $1.6...
Federal Budget 2020 | Personal Income Tax Changes
Key insights Bringing forward personal income tax cuts should result in an immediate cash increase for most employees. Low income earners will receive additional support through the increase to the Low Income Tax Offset and maintaining the current Low and Middle...
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Should You Be the ‘Bank of Mum & Dad’?
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Company Money Crackdown
The ATO is tightening its grip on business owners who dip into company funds or use company resources for personal purposes. It's not uncommon for business owners to blur the lines between their personal lives and their business, using company resources as if they...
ATO Sends a Clear Message on Trust Distributions
The ATO is closely monitoring how trusts distribute income and to whom. Trust distribution arrangements have been under intense scrutiny in recent years, so trustees must carefully consider their steps before appointing or distributing income to beneficiaries. ...
Attention SMSF Trustees: ATO Eyes are on Repeated Asset Value Reporting
The ATO has flagged some concerns for SMSF trustees about the casual approach some are taking to asset valuations. More than 16,500 self-managed super funds have recorded the same asset values year after year for three years straight. Many of these are tied up in...