Capital Gains Tax Investment Property
Capital Gains Tax on Your Investment Property Wondering how to calculate the amount of capital gains tax on your investment property ? This article will discuss how things work from…
Investment Property Accountant in Melbourne
Investment Property Accountant in Melbourne Well you have finally purchased your first investment property. Or maybe it's your fourth. And you are looking for an investment property accountant in Melbourne. …
Grant Options – Property and Tax Implications
Bob entered into an option agreement to sell a block of land in December 2020. Under the option agreement the purchaser has to pay a fee of $20k per quarter…
Main Residence – Expat – Property and CGT
Bob used to be an Australian tax resident and is now a non resident for tax purposes. What happens when he sells a property that was his main residence in…
Loss Carry Back Rules
Companies with an aggregated turnover of less than $5 billion will be able to carry back losses from the 2019-20, 2020-21 and 2021-22 income years to offset previously taxed profits…
Reviewing Your Products and Services
As a business owner have you been wondering where to start in analysing your business during COVID ? This might be a useful start 1. What were your biggest challenges…
Renting out Rooms in Your Main Residence and Impact on the 6 Year Absence Rule
Main Residence 6 year absence rule and renting out rooms
Bob decides to rent one room in his main residence to Jane after he moves into the property immediately after purchase. Bob and Jane continue to live in the property…
Late Superannuation – Don’t Make This Mistake
Bob gets a huge shock !!! His bookkeeper who organises superannuation payments for him and his employees paid his employees superannuation late. His accountant picks this up and tells bob…
Company vs Trust for Holding Property – Is it Clear Cut ?
We discussed whether Bob should hold an investment property in a company or a trust.Trust, trust, trust yells all the accountants.Companies don't get the discount you fool.Agreed. And sometimes that…
FBT and Workhorse Vehicles
Bob has employees who have "workhorse vehicles" It might be prudent for Bob's company to have those employees complete a declaration. Not perfect but a decent risk mitigation strategy. And…