Categories
Rebecca Mackie
Get your tax money now
The majority of property investors look forward to tax time, gathering their information together as quickly as possible so they can get in to see their accountant and receive their tax refunds from their negatively geared properties, but what if I told you that you didn’t need to wait until tax time to get this money?
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Gatherum-Goss & Assoc will be incorporated into Paris Financial
GGA has been specialising in Property Taxation since 1992 and have been part of the Paris Group since 2007. With the move to our newly refurbished offices in 2014, we have been working closely with the entire team at Paris Financial. Incorporating GGA officially under the banner of Paris Financial is the next natural step.
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myGov accounts and ATO
Recently we have had a few clients contact us because they have not received their Notice of Assessment or Business Activity Statement. Upon review we have found that these clients have set up a myGov account and have included the ATO as one of the linked services.
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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.
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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!
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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.
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Good News for SMSF Borrowing - API Article
It’s been a tumultuous 12 months in the world of self-managed superannuation funds (SMSF) limited recourse borrowing arrangements, ever since the Financial System Inquiry (FSI) released its report in December 2014. There’s been a lot of speculation about what the government’s response would be and we finally found out… and it’s good news!
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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.
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