Julia's Blog
By Julia Hartman
Download PDF An overview from the budget papers for the issues that we think would most interest our clients. Income Tax Cuts – There will be a very modest adjustment to the lowest tax bracket currently 16%. This applies to income in the range of $18,200 to $45,000. From the first of July 2026 …
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 From 1st January 2025 a vacancy land tax applies to all residential properties in Victoria that are not considered to be occupied for at least 6 months of the previous year. It is no longer just the inner and middle Melbourne areas that are caught. The period considered is the calendar year …
Download PDF Pay careful attention this year because it is very likely that your tax deductions are never going to be so valuable again. For every dollar you spend on tax deductions, if your income is between $45,000 and $120,000 the ATO will refund you 34.5 cents where as next year it will …