Hi all, This forum is great. Ive done a fair bit of research, but cannot find an answer. Principal place of residence, 3.5 hectares, is owned by...
Just saw this article that seems to say that claiming home office expenses could lead to a capital gains tax on the PPOR. (The writing is a bit...
Hi all, I am undertaking a retain and build subdivision of a site owned by myself and my wife and looking to create the new vacant lot in my name...
There is no need to move back into a property to be able to use the ‘6 year absence rule’ for CGT, s118-145 ITAA97. Example Maggie buys her...
My parents own a fairly sizeable block of land and we would like to knock down their house and both build a house. I have been looking into a...
The trustee of a trust will be the legal owner of any trust property, generally, so any change in trustee would generally result in a transfer of...
Does anyone have recent experience on how long the ATO is currently taking to process Foreign Resident Capital Gains Withholding Variations?...
Hi All, I have a general understanding of how both GST & CGT applies to developing property, etc., but have a query for those that have a bit...
My ex and I have separated amicably and are in the process of submitting the paperwork to the Family Court for consent orders on our two...
I recently inherited some overseas shares from a relative who passed away last year and he was an Australian citizen but non-resident since 20...
Hi All, I’ve checked all the other 6 year rule threads and couldn’t find he info I was looking for so sorry if it’s already been posted. I’ve got...
Tax Tip 289: CGT on Inheritance left to one person when put into different names Sometimes people don’t realise what they do will have tax...
Last time I showed how the end tax rate with a company holding shares and being taxed on capital gains could be as low as nil – nothing at all!!...
Tax Tip 287: How Capital Gains Through a Company can be Tax Free Companies pay a flat 30% tax on capital gains (or 27.5% in some cases). But this...
Hello everyone, I am living in my current home for more than 5 Years. The property is an old property. With family growing we wanted to get a...
Hi all, Any insight into the following would be highly appreciated. My father passed away unexpectedly a couple of months ago. He sold x3 of his...
In the early 1980s I bought a PPOR and lived there until early 2019. I renovated the property for $32,000, which is nearly as much in dollar terms...
How a couple could earn more than $87,500 per year and pay no income tax? Easy! In the thread: Tax Tip 197: How much can be earned without...
Hi everyone, I hope everyone is doing well. I have a question regarding CGT, I will be really grateful if someone can help me with it. I lived...
I'm looking into the feasibility of doing my first subdivision project in NSW. How do you calculate the GST and CGT payable? High-level scenario:...
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