Terry's Tax Tips

Discussion in 'Accounting & Tax' started by chylld, 19th Aug, 2015.

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  1. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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  2. property world

    property world Well-Known Member

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    Can you still deduct travel cost to and from IP?
     
  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Depends who you mean by 'you'. Individuals cannot
     
  4. property world

    property world Well-Known Member

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    As in myself who owns the IP and manages the IP. ie inspections, issues and a gardening service/tidy arranged between tenant and myself to be done monthly?
     
  5. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    nope
     
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  6. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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  7. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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  8. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    The travel costs are also not a CGT third element cost whether when purchasing, selling or for maintenance and management for most non-company taxpayers owning residential premises.
     
  9. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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  10. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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  11. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    This week i will do some more basic tax tips
     
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  12. Redwing

    Redwing Well-Known Member

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    Trusts?
     
  13. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    No trusts. Companies can
     
  14. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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  15. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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  16. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Tax Tip 234: At What Point is a Bucket Company Worth it for Share Investors Tax Tip 234: At What Point is a Bucket Company Worth it for Share Investors?

    Tax Tip 235: Transfer of a SMSF property in Vic to member in without duty https://www.propertychat.com.au/community/threads/tax-tip-235-transfer-of-a-smsf-property-in-vic-to-member-in-without-duty.41002/

    Tax Tip 236: Stamp duty and Partition of Land in VIC after settlement Tax Tip 236: Stamp duty and Partition of Land in VIC after settlement

    Tax Tip 237: What’s the cost base of a Main Residence if Not initially counted as the main residence? Tax Tip 237: What’s the cost base of a Main Residence if Not initially counted as the main residence

    Tax Tip 238: What is Dividend Stripping?
    https://www.propertychat.com.au/community/threads/tax-tip-238-what-is-dividend-stripping.41047/

    Tax Tip 239: Bucket Companies and Diversion of Income to Adult Children with no tax payable Tax Tip 239: Bucket Companies and Diversion of Income to Adult Children with no tax payable

    Tax Tip 240: Buying a Main Residence which is initially tenanted and CGT. Tax Tip 240: Buying a Main Residence which is initially tenanted and CGT.

    Tax Tip 241: Leave your children 2 properties CGT free on death Tax Tip 241: Leave your children 2 properties CGT free on death

    Tax Tip 242: Pre CGT Assets and Death Tax Tip 242: Pre CGT Assets and Death
     
  17. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Which is my best tax tip?

    I think tax tip 241 is one of the best - simple and very cost effective even if you get the timings wrong.
     
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  18. ShireBoy

    ShireBoy Well-Known Member

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    Thanks for doing this master list. Helps to not miss any new threads :)
     
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  19. Gen-Y

    Gen-Y Well-Known Member

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    Second that - you are a great value Terry. :D
     
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  20. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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