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Tax office turns up the heat on property investors

By JOHN MAKLOUF Despite the winter chill, Australia’s property boom is expected to see record audits on investors, with the tax office clamping down on excessive claims by property investors. Earlier this year the tax office announced it will be scrutinising property investors and, with the ability to cross match data with just about every governme...
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Add cash to your pocket with depreciation

By BRADLEY BEER Every landlord has a number of goals to which they must pay attention in order to have a successful experience as a property investor. These goals include obtaining the maximum weekly rent possible, choosing a reliable tenant and ensuring the property is well maintained in order to avoid hefty repairs and maintenance costs. The most...
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Depreciation on residential buildings – why 1985 doesn’t matter anymore

By MIKE MORTLOCK It’s amazing how certain aspects of tax depreciation stick in the minds of property investors and real estate professionals. One such example is the residential cut-off date for depreciation on the building structure. Most investors know that 1985 is an important year for depreciation, and many assume that a property built before 1...
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Utilising the margin scheme when selling new residential property

By PAT MANNIX and BEC MACKIE When building new residential property with the intention of selling for a profit, the biggest consideration, apart from income tax, is GST. Following on from last month, where we discussed the tax consequences of different types of developments, this month we take a more in-depth look at how you can use the ‘Margin Sch...
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Tips to improve depreciation deductions this tax time

By BRADLEY BEER A new financial year is here and, with it, property investors will be readying themselves for a visit to the accountant to complete their annual income tax return. With the Australian Taxation Office (ATO) encouraging property investors to be vigilant with their claims, it’s important to seek expert advice on the deductions availabl...
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Get yourself tax ready

By JESSICA DARNBROUGH With the Australian Taxation Office (ATO) revealing it will speak to more than 350,000 taxpayers this year in a bid to crack down on dubious tax returns, it’s now more important than ever to understand exactly what can and can’t be claimed. While property investors are privy to a range of specialised tax breaks, there are also...
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Taxing property developments

By PAT MANNIX In recent months I’ve had a number of conversations with clients who are building new residential properties, a couple intending to keep the property and rent it out and some intending to sell for a profit. When I informed these clients of the potential tax implications of selling, they were quite surprised that GST could apply and th...
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Industrial strength

By KIERAN CLAIR There’s a mistake most investors make, and it’s not about choosing cash flow versus capital gains, deciding between regional and metro holdings, or even whether houses provide a better option than units. The overriding error is forgetting that the world of property investment doesn’t end with residential. It’s an understandable stum...
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Land tax – the good, the bad and the ugly

By PAT MANNIX and BEC MACKIE When you buy your first (or even second) investment property, land tax is likely the last thing on your mind. Even less likely if you’re buying a new family home and have decided to keep the old one and rent it out. With land tax rates skyrocketing in some states over recent years, this can be a nasty surprise. Land tax...
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Growth in granny flats is golden when depreciation’s claimed

By BRADLEY BEER Recent figures from the NSW Department of Planning and Environment have indicated a surge in popularity for construction of granny flats. The information shows that 4818 new granny flats were built in New South Wales in 2014. Nearly double the 2867 built in 2013 and three times more than the 1500 built in 2010. These numbers are sup...
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Plywood Thickness: Weight-Capacity Correlation

Thickness of plywood is essential in determining which to use for the intended purpose at hand. In general, most plywood only reaches 1 inch in thickness. Plywood panels usually come in ¼ , ⅛, 1/16, or 1/32  inch intervals. Plywood thickness is important to know for two reasons. For starters, plywood thickness determines strength, meaning the thick...
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Flooring that goes with My Bathroom Accessories

It is entirely possible to have flooring that matches your various bathroom accessories, but you most likely wouldn't want solid wood floors in here. This is because there is always plenty of water that is getting all over the floors in the bathroom, especially if you have kids. However, you can put hardwood floors in the bathroom and use laminate ...
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Is commercial development right for you?

By CAM McCLELLAN Within the property spectrum there are many different types of investment, residential, commercial, land are just a few. You can invest for growth, you can invest for yield, it’s a whole Pandora’s Box of options. A few years ago we bought a block of land with the view to building a commercial property which would carry a long term ...
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6 depreciation and CGT facts

One question that investors often ask about claiming depreciation on a rental property is ‘how will these claims affect capital gains tax (CGT) when the property is sold?’ CGT can be a complex topic for investors to understand, particularly as the answer to the above question can often depend on the scenario of the individual property investor. Int...
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Partial year deductions

By BRADLEY BEER Investors who have only recently purchased an investment property leading up to the end of financial year often postpone organising a depreciation schedule until the following year. However, even if an investor has purchased a property in the last few days of the financial year, it’s still worthwhile getting a depreciation schedule....
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Bathroom Tile Ideas

No matter what the size of your bathroom, some basic bathroom tile ideas can help you do up the bathroom flooring in the best possible manner, and for results worth appreciating. Bathroom tiles are, in fact, elementary to any bathroom design or theme – and the best part about them is their availability in a wide array of shapes, sizes, patterns and...
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Choosing Flooring When Building a Home

Flooring is a practical element in the design of a home. Not only is flooring practical but it adds to the overall look of the home and adds style to every room. This is the reason why choosing the flooring for your home is an important step in the design process. When building a new construction the home being built is fully customizable which mea...
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Finding The Right Floor For Your Kitchen

Choosing the right flooring for any room in the home can be a nightmare but the kitchen is one of the most important rooms to get right. The kitchen is one of the most used rooms in the home and is often referred to as ‘the heart of the home’. This means you need to find flooring that is practical, durable and looks great with the rest of your kitc...
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