Julia's Blog
By Julia Hartman
Download PDF Victoria appears to be looking to solve its state debt with land tax. Last year saw the vacancy tax extended to most of the state, except for Alpine resorts https://www.bantacs.com.au/Jblog/victorias-latest-vacancy-tax/#more-1701 There was also the dropping of the land tax threshold from $300,000 for the 2023 year to $50,000 for 2024 and …
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 …
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 …
Download PDF Reserve Bank Governor Phil Lowe has told struggling homeowners to rent out a room in their home so they can afford the increased interest rates. Nice to see someone with a take home pay of over $10,000 per week can empathise with the common people, but what about the tax consequences? …
Download PDF If your home is on more than 2 hectares (5 acres) you need to keep capital gains tax (CGT) records right from day one. This could even include lawn mowing fuel. Not hard just takes discipline and the right advice. Here is a link to spreadsheets and instructions that will help you …