Property

PAYG Income Tax Withholding Variation

Do you own a negatively geared investment property? Your employer is required to withhold tax during the year to cover your estimated tax liability from your employment income. However, those who have a negatively geared property investment will have less taxable income than their employer estimated, due to their rental property loss offsetting their employment income. In these cases, the employee does their tax and gets a tax refund for the overpaid tax at the end of the year.

ATO property data match could affect honest owners

Late last year the Australian Taxation Office (ATO) announced its intention to acquire details of property transactions dating back to September 20, 1985. Yep, 1985! The scope and amount of information they are requesting is gigantic!

Investing in Commercial - API Article

Most property investors are comfortable with residential property, having owned or rented themselves, but commercial property investment can be a little more daunting. The main reason for this is that there are so many additional factors to consider, such as GST, complicated leases and who’s responsible for the outgoings (expenses) for the property.

Trusting Tax - API Article

Trusts have been around for centuries, since the days of knights and round tables and have played many different roles over the years. They can prove an integral tool in your investment and business journey, if used correctly.

Tax implications of renovating for profit - API Article

We’re regularly asked about the tax consequences of renovating to sell for a profit and the answers and issues that may arise often surprise clients. Here’s some information on renovating for profit and the significance of substantial renovations.

Is offset or redraw the best? - API Article

I had a conversation with a client a few weeks ago that went something like this: “So, you’ve just signed your property purchase contract, congratulations!” followed by my asking “Will you be living in it or renting it out?” and “Have you got the finance sorted?”.

Using the Margin Scheme When Selling New Residential Property

When building new residential property with the intention of selling for a profit, the biggest consideration, apart from income tax, is GST.

Following on from last month, where we discussed the tax consequences of different types of developments, this month we take a more in-depth look at how you can use the ‘Margin Scheme’ to reduce your GST liabilities.....

Taxing Developments - API Article

In recent months I’ve had a number of conversations with clients who are building new residential properties, a couple intending to keep the property and rent it out and some intending to sell for a profit. When I informed these clients of the potential tax implications of selling, they were ...