Julia's Blog By Julia Hartman
Download PDF The new section introducing this is 25-130 ITAA 1997, the wording is interesting. It specifies that you have to be an Australian resident at some time during the year and derive “assessable labour income” during the year. That term assessable labour income raised my eyebrows, I wondered if it was determined by the …
Download PDF A Death, Divorce and Natural Disasters Tax has been hidden in the budget and it is far further reaching than the widow’s tax on negative gearing that has been getting all the attention. In fact that issue is a non event because the rental property will have to be sold to pay …
Download PDF I am not objecting to the replacement of the 50% discount with indexation. Sometimes indexation will produce a lesser capital gain than the 50% discount as under the discount half of your gain would be taxable no matter how bad inflation had been. With indexation at least you are only taxed on …
Download PDF There is a new question we will be asking you this year. Just how often do you use your holiday home yourself compared with the rental income it is earning? It is no longer just a question of apportioning expenses between private and income producing times. Unless the holiday home is used …
Download PDF The most important message is there is nothing in the proposed legislation that suggests you should off load your existing residential rental property. Negative Gearing Residential properties purchased after 12th May, 2026 will not be able to offset their rental losses against other income such as wages after 1st July, 2027, …