Good news – only applies to properties purchased after 9th of May 2017 The Federal Government has proposed adjustments to depreciation legislation in the 2017 Budget. Under the new rules which are yet to be legislated by Parliament, investors will be able to depreciate new plant and...
Insight into the properties Australian investors target There is a plethora of data available to help educate property investors with their investment strategy. Given the value that research can provide to potential investors, we thought we’d look at some of the key statistics we could gather from...
Sonya asks if a depreciation schedule is a good indication of a unit’s value. It appears an agent said it is just an estimate. Brad Beer from BMT Tax Depreciation sets the record straight. Transcripts: Kevin: I had a question from a listener during the week who...
Starting a new business can be quite daunting, particularly if you’re trying to do so within a strict budget. On top of other initial start-up costs such as purchasing stock or merchandise, arranging insurance, budgeting for staff overheads and (if you don’t own the building) allocating...
What to know if you are thinking of selling a property Before an owner decides to sell their property, they need to be aware of the Capital Gains Tax (CGT) implications that may apply. Surprisingly, many owners are exempt from CGT but are unaware of their...
Depreciation schedules should be arranged before and after any renovation All too often we see investors contacting specialist Quantity Surveyors to organise a depreciation schedule after they have completed renovations to an investment property. In most instances this is too late for the investor to claim...
The costs involved in starting any new business can be quite expensive. There are expenses for stock and merchandise, insurance, staff overheads and (if you don’t own the building) funds required to cover rent. Whether you own or rent the building, there may also be costs...
As October 31st fast approaches, many property investors who submit their own income tax assessment online could potentially miss out on thousands of dollars in unclaimed deductions. Since the 1986-1987 financial year, Australia has operated a system of self-assessment of income tax. As a consequence a significant...
It is estimated that close to one million businesses in Australia are home based and this sector is considered to be one of the fastest growing business sectors. For those who choose to operate a business from home there are many benefits including a better work-life...