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Own a rental property? Know your tax deductions

July 10, 2018

Finance Strategy Taxation

In Domain’s A Guide to Maximising Rental Property Returns we gain greater insights into taxation policies that directly affect property investors managing rental properties from Paul Drum, Head of Policy at CPA Australia. Following are some helpful top-line tax pointers for property investors – but you should also seek accredited professional advice that takes your personal financial circumstances into […]

Everything you need to know about July 1 property changes

July 2, 2018

Government Infrastructure Property and Investment News Strategy Taxation

BIG changes are afoot in the property market starting July 1 — and here’s your quick guide to it all from buyers collecting tax for ATO to higher land taxes. FEDERAL GST The biggest change starting July 1 is that buyers of new houses, units or residential land blocks effectively become tax collectors for the […]

NSW Budget 2018: Sydney’s cooling market to cost NSW government $6 billion in revenue until mid-2021

June 21, 2018

New South Wales Property and Investment News Taxation

Sydney’s slowing property market is set to make a whopping dent in the state government’s coffers due to a massive reduction in stamp duty revenue. The state stands to lose a total of $6 billion in revenue between last financial year and mid-2021, according to significantly revised stamp duty revenue figures in this year’s NSW budget, […]

NSW stamp duty nets $13.8 billion — and some are calling for reform of the tax

June 18, 2018

New South Wales Property and Investment News Taxation

PHOTO: Five suburbs across Sydney contribute more than $1 billion in stamp duty (ABC News: Nour Haydar) Despised by property buyers, it is the New South Wales Government’s most lucrative source of revenue. Last financial year, stamp duties and land taxes, levied on home-buyers and investors, netted NSW Treasury a whopping $13.8 billion. But the impacts of […]

Budget 2018: Tax cuts for 10 million workers

May 9, 2018

Property and Investment News Taxation

A tax cut for 10 million workers will start on July 1 under a Turnbull government plan to win back middle Australia and prepare for an election, setting up an immediate test in Parliament over income tax reform that will cost an extraordinary $140 billion over a decade. The radical seven-year plan announced by Treasurer […]

Interest-only mortgage holders face $7,000 a year hit: RBA

April 24, 2018

Finance Interest Rates Property and Investment News Strategy Taxation

  Borrowers with a typical interest-only home loan face a $7,000 jump in their annual mortgage costs when their interest-only period ends and they are forced to start paying back principal, the Reserve Bank says. With almost $500 billion in interest-only mortgages set to expire in the next four years, RBA assistant governor Christopher Kent on […]

6 things you can claim to maximise your tax savings

February 11, 2018

Property and Investment News Taxation

  1. Interest Interest is by far the largest tax deduction in a negative gearing arrangement. Provided  your property is available for rent, the interest incurred on  money you’ve borrowed for the property is tax-deductible, including money used to purchase the property, undertake repairs and improvements, or deal with tenant related issues. The kind of […]

The various hidden costs of buying an old house

August 4, 2017

Depreciation Property and Investment News Pros & Cons Strategy Taxation

Are you considering buying an old house to refurbish it and sell it off at a considerable profit? Or are you just planning to buy an old house to save some money?   While buying an old house (by old we mean as old as 60-70 years) is a pocket-friendly option as compared to buying […]