One of the most common mistakes made by property investors when completing their annual tax return is confusing repairs, maintenance and improvements. It’s important to understand and distinguish each deduction in order to correctly lodge your claim and maximise your tax refund. According to the Australian Taxation Office (ATO), repairs are considered work completed to … Continued
What can you claim when renovating? More and more Australian investors are choosing to renovate their investment properties before leasing them out. However, investors who live in the property while renovating risk missing out on thousands of dollars in property depreciation deductions. Property depreciation is generally the second biggest tax deduction after interest, though it’s … Continued
Are you a business owner that purchases assets primarily for business use? Are you aware of the increased amount of claiming an instant asset write off for newly purchased assets, for the 2019 income year, be it brand new or second hand? Using the instant asset write-off, you can claim a deduction for each asset … Continued
Partial year depreciation deductions can boost your cashflow. If you haven’t owned your investment property for a full year you can still claim depreciation deductions this tax time. Investors can claim pro-rata depreciation deductions for the period their property is rented out or is genuinely available for rent. That is, the property is given broad … Continued
Sydney 2nd July 2019 RBA decision The cash rate has hit an all-time low! The Reserve Bank of Australia (RBA) has cut the official cash rate by 25 basis points to a new low of 1 per cent, the second consecutive month it has cut rates. In the official statement released by the RBA, it … Continued
Most of us are concerned when it comes to closing off our 2019 accounts, and unfortunately, many small businesses forget to pause to plan for the year ahead. What we want you to do is ask yourself: Have I written it down to share with my staff, so I am not struggling to remember? Did … Continued
Property depreciation deductions can make a significant difference to any investment property owner’s cash flow. Despite this, of all the deductions available to be claimed by investors, depreciation is the most often missed. Every property investor can benefit from learning more about depreciation and discovering the process involved in finding out what deductions are available … Continued
Sydney 4th June 2019 2.30pm, Reserve Bank of Australia announcement. At its meeting today in Sydney, the RBA Board decided to lower the cash rate by 25 basis points to 1.25 per cent. The RBA Board took this decision to support employment growth and provide greater confidence that inflation will be consistent with the medium-term target. The outlook … Continued
With tax time fast approaching, here are five tax time tips to ensure you maximise the deductions for your investment property. 1. Understand what deductions you’re entitled to As a property investor, you’re entitled to a range of tax deductions. These will help lower your taxable income and make owning an investment property more viable. … Continued
Sydney at its meeting today, the RBA board decided to leave the cash rate unchanged at 1.50 per cent. The outlook for the global economy remains reasonable, although the risks are tilted to the downside. Growth in international trade has declined and investment intentions have softened in a number of countries. In China, the authorities have taken … Continued
Shared assets in strata title lucrative for investors A strata title is used when individuals own part of a property usually called a ‘lot’. This is generally an apartment, unit or townhouse complex which shares ownership of common property including driveways, foyers and gardens. The ownerships are combined through a legal entity called the owners … Continued
Sydney 2nd April 2019 2.30pm, Reserve Bank of Australia At its meeting today, the RBA Board decided to leave the cash rate unchanged at 1.50 per cent. The outlook for the global economy remains reasonable, although growth has slowed and downside risks have increased. Growth in international trade has declined and investment intentions have softened in a … Continued
The Budget is “Back in the black”, Mr Josh Frydenberg announced as he handed down the 2019/20 Federal Budget, with a surplus of $7.1b, on 2 April 2019. The budget focuses on “restoring the nation’s finances”, further strengthening the economy to create more jobs and to “guarantee the essential services”. The tax, superannuation and social … Continued
What will 2019 hold for the property market? We look at some of the biggest trends we’re likely to see in the year ahead. Investors seeking regional areas over metropolitan As property price growth continues to slow in Sydney and Melbourne, there is an increasing demand for regional properties by investors due to more affordable … Continued
Sydney 5thMarch 2019 2.30pm, Reserve Bank of Australia At its meeting today, the Reserve Bank of Australia Board decided to leave the cash rate unchanged at 1.50 per cent. The global economy grew above trend in 2018, although it slowed in the second half of the year. The slower pace of growth has continued into 2019. The … Continued
Ever looked at a friend who has everything together and thought ‘what’s their secret?’ Here are five habits you can implement to achieve financial security. Believe it or not, being secure financially doesn’t involve magic or an outrageous stroke of luck. More often than not, it results from good habits, such as keeping track of … Continued
Snapshot of the ALP key tax policies Editor: The Federal Election will be the primary focus over the next few months, with many commentators predicting a possible change in Government. As usual, tax policy is a focal point of the political debate. Recently, at Labor’s 48th national conference (16-18 December 2018), a document entitled A … Continued
What is depreciation? As a building gets older and items within it wear out, they depreciate in value. The Australian Taxation Office (ATO) allows property investors to claim a deduction relating to the building and fixtures it contains. Depreciation can be claimed by any owner of an income producing property. This deduction essentially reduces the … Continued