A simple explanation of common property depreciation February 3, 2021 | Property Property rental rates and values are subject to constant change, and this is particularly evident for units, townhouses and other types of strata complexes. A constant amongst this sea of change is the tax deductions that rental properties provide to their investor owners.…

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Financial Advice Report for Commercial Tenancies December 17, 2020 | Property Entering into a commercial lease is a significant business decision as it requires a big commitment of both time and money. A commercial lease can be one of the largest obligations a small business may undertake, so the Queensland Government has put in place…

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Land tax relief for COVID-19 affected Queensland commercial landlords November 23, 2020 | Property Queensland commercial landlords may apply for one or more of the following land tax relief measures: a land tax rebate reducing land tax liabilities by 25% for eligible properties for the 2019-20 assessment year a waiver of the 2% land tax foreign surcharge for foreign…

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How to save money with negative gearing November 18, 2020 | Property Negative gearing is a highly discussed topic throughout the property sector and is always brought into the spotlight at election time. As one of the deciding factors in an investment property, it must be considered when determining your investing strategy. Before exploring depreciation…

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What you need to think about before building an investment property October 15, 2020 | Property When considering taking the plunge on an investment property, a vacant block of land probably isn’t the first option considered. We want to change this as people are unaware of the benefits of building on an empty block. Your…

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What are plant and equipment depreciation deductions? September 15, 2020 | Property Image courtesy of https://www.paig.com.au/ There are a lot of items property owners can claim depreciation on. So, when your specialist quantity surveyor tells you that you can claim depreciation on almost anything, they mean it. You can claim depreciation on your investment property’s walls,…

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What is HomeBuilder and how do you access it? June 5, 2020 | Property To help stimulate the economy the Government has announced grants of $25,000 to encourage people to build a new home or substantially renovate their existing home. The HomeBuilder scheme has been designed to boost the residential construction market by providing tax-free…

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Many landlords are being approached by tenants in financial distress due to the impacts of COVID-19. SMSFs who own property are not immune from these requests. Often SMSFs are setup to acquire business property which is then leased back to the family business on commercial terms. This means that the family business may need to…

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Legislative changes have been made to Capital Gains Tax (CGT) which impacts non-residents. Expats and those with a main residence in Australia, but who live overseas, will find that they can no longer access the main residence exemption from CGT. There are some exemptions to this change, and we will explore further the rule changes, its…

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The Australian Taxation office is cracking down on those who rent out all or part of their property on Airbnb, or similar platforms, without reporting the income they receive. Over the coming weeks the ATO will send stern letters warning Airbnb hosts to report their income correctly. These letters will also outline what those who…

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