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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?”.

2015 Tax Checklists

Our 2015 checklists have now been uploaded to our website.  Go to Resources, Taxation Checklists to download them and start getting your information ready for your 2015 return.

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.....

Australian House Market Report - July 2015

Key take outs from the latest Australian House Market Report prepared by RP Data and National Australia Bank include:

• Nationally (capital city) house values increased by 7.9% for the 12 months to April 2015
• Sydney recorded strongest ...

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 ...

Land Tax - The Good, The Bad and The Ugly - API Article

When you buy your first (or even second) investment property, land tax is likely the last thing on your mind. Even less likely if you’re buying a new family home and have decided to keep the old one and rent it out. With land tax rates skyrocketing in some states over recent years, this can be a nasty surprise.

Land tax is imposed by all state and territory governments in Australia, except for the Northern Territory. It’s based on the cumulative value of all unimproved land that you own, other than .....

2015/16 Variation Checklist

Our 2015/16 Variation Checklist is now uploaded to our website. if you have not already done so, now is the time to request a 2015/16 PAYG Withholding Variation. A new variation must ......