How to Avoid Paying Capital Gains Tax (CGT) When Selling a Property?

While capital gains tax might sound overwhelming at first thought, with a bit of knowledge and planning, it’s possible to substantially reduce how much of it you pay – or even avoid it altogether. Capital gains tax (CGT), for those who are new to this, is the levy you pay on the capital gain made […]

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How to Calculate Capital Gains Tax (CGT)

As with most financial matters, capital gains tax can look daunting from afar. But edge a little closer and you begin to see it’s not quite as confusing as you initially thought.  Here’s what you need to know to get your finances in order. What is Capital Gains Tax?  Capital gain is the difference between […]

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Do you know the new tax rules for vacant land?

There have been changes to the taxation legislation to limit deductions that can be claimed by property investors for holding vacant land. These changes received royal assent on 28 October 2019 and apply to costs incurred to hold vacant land on or after 1 July 2019, even for land held before that date. But since many investors […]

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Top 10 tips to help rental property owners avoid common tax mistakes

Want to avoid the taxman rejecting your claim? Even worse, do you want to prevent the taxman from digging deeper and auditing your affairs? The Australian Taxation Office has a lot of information on their website to help property investors. Whether you use a tax agent or choose to lodge your tax return yourself, the […]

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Some of the most frequently asked Coronavirus Tax Questions

Are you wondering how your changed circumstances related to COVID-19 may affect your tax situation? Well, you’re in good company. The Australian Taxation Office has provided a lot of information on their website to assist you. Here’s a list of the most frequently asked questions they are getting from individuals and employees as well as […]

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Property investors – here’s what the tax man wants you to know

The Australian Taxation Office is aware that residential rental property owners may be concerned about how COVID-19, floods, or bushfires have reduced their income. This may be a result of tenants paying less or entering deferred payments plans, or travel restrictions which have affected demand for short-term rental properties. New legislation also affects the tax […]

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The tax man does not have children

You thought we no longer had death duties but call it something else and we can see that the tax man can get a slice of your superannuation on your death if it goes to certain people. Everyone who has children knows that the Bank of Mum and Dad is an institution that runs 24/7 […]

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Attention Property Investors – The Tax Man is after you!

Will your investment property make you a TARGET for the tax man? Attention property investors: your friends at the Australian Taxation Office might be taking an a much closer look at your tax return than you will be comfortable with this year … Assistant tax commissioner Gavin Siebert said the tax office has made property […]

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A Complete Guide to Capital Gains Tax (CGT) in Australia

The thing about property investing is that eventually you, or your beneficiaries if you hold for the extremely long-term, will likely have to pay Capital Gains Tax (CGT). This is the time when the Federal Government gets their share of the profit that you’ve made from investing in property as it’s technically classed as personal […]

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