Clearance Certificates Now Apply to All Properties

Download PDF       A clearance certificate is now required to sell any real estate in Australia.  If you do not provide one, 15% of the sale price will be withheld at settlement and sent to the ATO.  You can make the application yourself on the ATO web site here https://www.ato.gov.au/single-page-applications/frwt-certificate#applicationtype    Be careful to use this …

Debt Recycling!  Does shuffling funds around really change the nature of the debt?

Download PDF       Well a lot of this has to do with whether your dominant purpose is a tax benefit.  Yep Part IVA, the ATO’s secret weapon that defeated capitalised interest arrangements.       Debt recycling, suggesting that you can change non tax deductible debt into deductible debt by buying whatever the promotor is selling.   Very …

Victoria’s Latest Vacancy Tax

Download PDF       From 1st January 2025 a vacancy land tax applies to all residential properties in Victoria that are not considered to be occupied for at least 6 months of the previous year.   It is no longer just the inner and middle Melbourne areas that are caught.   The period considered is the calendar year …

The 2024 Energy Efficiency 20% Bonus Tax Deduction

Download PDF       If a small business has installed, ready for use, energy efficient plant and equipment during the 2023-2024 financial year, they can generally claim 120% of the purchase price as a tax deduction.              Due to the LNP and the Greens delaying the passage of the legislation through the Senate it became …

Federal Budget 2024-2025

Download PDF 2024-2025 Federal Budget Summary       This is a very succinct summary of the budget, just the parts that we consider relevant to our clients’ financial decisions.  There is plenty of detail available on web sites and in the newspapers, this blog is intended to help you just get the information you need in …