Property
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 certain safeguards to protect and inform…
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 entities for the 2019-20 assessment year a 3 month deferral of…
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 and negative gearing, lets understand the basics.…
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 specifications can be achieved, along with long-term financial benefits that can…
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, furniture to its mailbox and the kitchen…
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 grants of $25,000 to eligible owner-occupiers to build a…
Guidance on SMSF Landlords providing temporary COVID-19 rent relief to tenants (Both related party tenants and arms length tenants)
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…
Key Changes To CGT Exemptions For Expats And Foreigners
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…
The ATO Is About To Send Letters To Airbnb Hosts Over Unreported Income
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…
What You Can And Cannot Claim On Rental Property Expenses
To assist property investors there are many great deductions that you can take advantage of that will make your investment property far more affordable. However, often the claims that should make sense in the real world are not considered acceptable by the ATO. This can make claiming the correct tax deductions complicated for many property investors. You should always talk to your accountant…
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