Julia's Blog
By Julia Hartman
Download PDF CGT applying to collectables is a serious problem probably affecting everyone. Consider for a moment you purchased an engagement ring before 19th September, 1985 that cost you $700. As it is a pre CGT asset there is no CGT payable when you transfer it as a gift to your spouse. Assuming …
Download PDF Despite objections from the Tax Agent community, the ATO have introduced new rules to make it damn near impossible and probably uneconomical to claim home office expenses on the cents per hour basis. The first hurdle is you must start a diary now! From 1st March 2023 every hour all year must …
Download PDF This blog has been inspired by the terrible tax outcomes I have seen for people selling a basic rental they purchased as a home and land package or whose home is on 5 acres or more, all the way through to farms. The latest is a vendor who sold his cattle property …
Download PDF Tax Treatment of Electric Vehicles There has been a lot of talk about the FBT concessions associated with electric cars, this blog explains the latest on that from an employee and an employer’s point of view. Let’s start with an area that does not seem to be getting any publicity, deductions for …
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 …