Just because you are married, or in a defacto relationship, doesn’t mean you cannot contract with your spouse. You can, but there is a general...
The so called 'stage 3 tax cuts' come into effect in 2024/25 financial year. This is law - it has been legislated and it can be found in Schedule...
Land tax is levied under state legislation while CGT is levied under Commonwealth Legislation. State taxes are not connected, directly, to...
Imagine Homer dies and leaves a gift to the ‘society for the prevention of cancer’. This entity doesn’t exist and that would mean gift would...
Some people buy and settle on a property using loans where the securities are crossed. They may think that this cannot be changed where the LVR of...
Tax Tip: Rent Paid to the Agent at end of June – What year is it Taxed in? What happens if a tenant pays their rent to the real estate agent at...
There is currently a relatively unusual situation where the division 7A benchmark interest rate is lower than the housing loan interest rates. For...
To be able to claim the interest on a loan the taxpayer needs to a) Incur the interest, and b) Receive income (or expect to) connected to...
Related party transfers can affect GST claims down the track. Example Homer operates a discretionary trust which acquires a property. The trust...
Tax Tip 473: Getting the Estate to Sell Deceased’s Property to Save Tax A deceased estate is generally taxed as a separate individual on...
CGT is generally calculated based on the date that the contract is entered into and not on the settlement date. Tax Tip 214: At what date is CGT...
Sometimes people own property which they will not claim the main residence exemption on – either they can’t, or they are claiming the exemption on...
A sub trust could potentially mean many things but it would generally be where the trustee of a discretionary or unit trust holds money or assets...
People can have 2 or more distinct capital gains interests in property. This will generally be due to a related party transfer or an inheritance....
An installment sale is one where a seller sells something, such as a property, and the buyer pays for it in 2 or more installments. If this were...
Shareholders generally control who the director of a company is by their voting power. It is then the director of the company that runs the...
Did you know that foreign persons get slugged extra stamp duty when they purchase a property and extra land tax as well. In NSW this can be double...
When a taxpayer dies the cost base of their property is reset to the market value as of the date of death as long as the property was the main...
It is common for both spouses to be on a loan but one of them only be the owner of the investment that was purchased with the borrowed money. In...
There is a tax disaster waiting to happen for clients of Nano Home Loans. Nano has be acquired by AMP and all NANO loans will soon become AMP...
Separate names with a comma.