Julia's Blog
By Julia Hartman
Granny Flat Rights 2021 – Download PDF Centrelink offer some excellent pension concessions for parents to build a granny flat in their child’s back yard or modify the house etc. With raising awareness of elder abuse Centrelink also strongly encourage parents to obtain a right of occupancy over their child’s house. This would take the …
(Download PDF) The ATO have issued a draft ruling on claiming expenses when you are constructing a rental property. TR 2021/D5 https://www.ato.gov.au/law/view/print?DocID=DTR%2FTR2021D5%2FNAT%2FATO%2F00001&PiT=99991231235958&fbclid=IwAR0IAFNOdKMzqPcho6-FIEI6-cOFGjggwMwWMflgbmx46UbHamRM2ZYDyJ8 From 1st July, 2019 the deduction of expenses relating to vacant land have been severely restricted. Specifically, in regard to the costs associated with vacant land that you are holding to build a …
(Download PDF) I have got to say the most common question I am asked is whether the ATO would consider a subdivision a profit making business or merely realising an asset. If the land is sold in a profit making enterprise then it is business income, fully taxable, which means no 50% CGT discount. The …
(Download PDF) There was once a time where the mention of inhouse software development seemed only relevant to the big end of town. But now so many businesses are looking to sell online it is important to understand how these costs are treated for tax purposes. After all if there is no tax deduction they …
(Download PDF) Well not much to report this year! Our annual budget blog concentrates on giving the detail on issues that affect our clients tax, income, superannuation and businesses. Afterall you can read about the hype anywhere it is getting the detail and how it affects you that we are looking to provide. This budget …