Category «Your Own Home»
If Your Home or Investment Property Has Been Damaged in the Fires
If your Home or Investment Property Was Damaged in the Fires, The taxman is lurking behind those new green shoots of regrowth and what a bonanza to be had. The ATO can easily administer through already established data matching with land titles offices and insurance companies, while for the average taxpayer, the whole situation is …
Expats Beware
Expats Beware the Australian Government is After Your Main Residence Exemption Again! The bill to remove the main residence exemption for expats made its way through both houses in the final days of the 2019 parliament. It is a little tamer than the 2017 version but can still apply retrospectively to destroy your main residence …
The Tax and Record Keeping Consequences of Holiday Rentals Such as Airbnb
Obviously, you have to declare the income you receive and are entitled to claim expenses but the long-term consequences of a property earning income is capital gains tax (CGT) which means keeping records for the rest of the time you own it. This will even apply to your home in most circumstances. When the Property …
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