A creditor is someone that is owed money. A secured creditor is someone who is owed money and has taken some sort of security for that loan....
How do you know which loan after a refinance relates to which loan before a refinance? Example Homer refinances 2 loans secured against his...
When a person becomes bankrupt the trustee in bankruptcy comes in and ‘steps in their shoes’ and has the power to sell assets of the bankrupt and...
I have written several tips on spouses selling or transferring property to each other and here is a list of those tips, hopefully in date order:...
Title is not really relevant to the Main Residence Exemption for CGT. The main residence exemption applies to a dwelling and the land the...
If 2 people lease a house and one leaves, without changing the lease, after the relationship breaks down is it breaking and entering if they come...
Legal Tip 425: Ownership Structuring of Investments in Shares for Children A lot of people want to buy shares for their young children and they...
Tax Tip 517: How to Borrow to pay ‘cash’ expenses It is not possible for you to pay for something and then reimburse yourself with borrowed...
Not property related but I didn’t know this until recently. Homer doesn’t like the ATO very much. He has a tax bill for $2567 so he thinks I...
When a taxpayer has held shares longer than 12 months since acquisition, they can potentially qualify for the 50% CGT discount. However, section...
Often where a company or a trust is set up to hold an investment property the rent won’t be enough to meet all the costs incurred. Where this...
There are 2 ways to hold an asset jointly with someone else a) Tenants in Common, or b) Joint Tenants The main difference between the 2...
Negative gearing is when a taxpayer borrows to buy an income producing asset but the costs are more than the income received. It can relate to...
A trust is not a legal entity and it therefore it can’t really borrow like a company can. What happens when a trust wants to ‘borrow’ is the...
A bankrupt person is considered to be legally disabled. As such they don’t have the capacity or ability to remain in certain positions and this...
Tax Tip 513: Spousal Transfers where Interest Will not be deductible When spouses sell income producing assets to leave other the interest on...
If you go over the 6 years when renting out your former main residence it may not be a big deal. Example Bart has bought a main residence and...
Tax Tip 511: Incorporating a Trust into a Strategy of Debt Recycling when Interest Rates are High Discretionary Trusts are generally a good way...
Many years ago, as rates between PI and IO started to differ, I wrote a tax tip on paying interest only on a PI loan. This gives the benefit of...
Interest can be deductible where the loan is used to produce income. Where a taxpayer borrows to invest in dividend paying shares or an investment...
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