Julia's Blog
By Julia Hartman
Download PDF General Deductions: You can only pay a maximum of 12 months in advance. In the case of interest payments check if the bank will let you do this and that they do treat it as an interest payment not just let it reduce the loan balance. If you pay rates, insurance or body …
Download PDF – Updated 8th April 2022 Don’t forget to keep all the records you will need to be able to claim the associated costs as a tax deduction. None of the claims listed below will affect the CGT main residence exemption on your house. The CGT main residence exemption is more a factor of …
Download PDF The Unanticipated Consequences of Rebuilding your Rental to Sell Whether it be fire, flood, or other catastrophe you need to consider the CGT, income tax and GST consequences if you receive an insurance cash payout then rebuild your rental with the intention of selling it. GST in particular could be brutal yet the …
Download PDF Check with an experienced property Accountant before you ever choose to register for GST. Get it wrong and you will have to pay the ATO 1/11th of the sale proceeds, even if the bank ends up taking the whole lot to repay your loan. Twice in one week clients have come to us …
(Download PDF) Bosanac’s case has taken a turn for the worse. https://www.judgments.fedcourt.gov.au/judgments/Judgments/fca/full/2021/2021fcafc0158?fbclid=IwAR3KR9OTbrHLVJh6xLCx7Sb0nkX5KK1JHhrdIhcmRc6XIAamXH8TgQKbCn4 Initially, before a single judge of the Federal court Ms Bosanac was successful in holding onto the family home which she held in her name only. The ATO was after half of it to pay her husband’s tax bill. The Federal court found …