In the second part of our Tax insights | investing in property series, we extend our discussion of the capital gains tax (CGT) “main residence” exemption (sometimes also referred to as the “principal place of residence exemption”) in the context of Australian expats and investing in vacant land. We also consider the special “6 year rule” which extends the availability … More Tax insights | investing in property (part 2)
About to buy your second property? STOP AND READ THIS! We previously published a popular article discussing negative gearing with property investments which offered 5 useful tax tips to consider when buying property. In this series, we will discuss further opportunities to take into consideration when investing in property. Part I discusses what happens with a … More Tax insights: investing in property (part 1)
The global digital economy is increasing in value; this includes opportunities for Australians to import offshore intellectual property to resell to Australian businesses and consumers. However, many Australian taxpayers probably don’t realise that they will likely bear the cost of paying a non-resident’s tax under Australia’s withholding tax collection mechanisms. In that context, this article considers the … More Insights: royalty payments to Canada – Task Technology v C of T
The purpose of this blog article is to discuss the concept of “negative gearing” and its practical implications for investors in property. We also include 5 helpful tips for our readers at the bottom of the article. What is negative gearing? Often the focus in media and politics is on one aspect of negative gearing – … More Insights | Negative gearing and investing in property
Our Prime Minister has recently come under fire for suggesting that couples could seek financial assistance from parents to buy property. In fact, my experience suggests this is not uncommon for Australians from multicultural backgrounds, particularly where there is an expectation that the newlyweds ought to establish a new household. SMH’s Domain suggests a number … More Insights | Parents helping children buy property
This blog is intended as a humorous supplement to the plethora of other publications freely available from the Big 4 Accounting Firms and other mid-tier firms. We will preface this blog post with an obligatory remark that Budgetary tax announcements are exactly that – mere announcements; they do not have force of law unless and … More Tax insights | 2016/17 Federal Budget Papers
Practical implications of the Metricon case Land tax is assessed and is payable annually unless an exemption applies. The Metricon case is the current definitive authority when considering whether the dominant use land is one or more of the prescribed primary production activities and exempted from land tax or otherwise. The Metricon case represents a turning point in land tax law … More Insights: 2016 Metricon land tax decision
