Tax Depreciation
Get Your Assets Working Harder with an Investment Property Depreciation Report
These are tough times. As if last year’s bushfires weren’t enough, no-one could have predicted the fallout from eighteen months of a global pandemic. The reality is we still don’t know what the future holds, and it’s different for everyone. Both individuals and businesses are struggling with ongoing lockdowns and general uncertainty in the market…
Read MoreThe truth about depreciation and CGT
There are plenty of quandaries swirling around the zeitgeist which confound me. For example, what university course should I take to become a millionaire ‘influencer’? Also, why wasn’t our national anthem composed by a sweat-drenched, pub-rock band from Adelaide? Big questions that someone else will have to resolve I’m afraid. However, there is a line…
Read MoreThe true costs of investing without expert advice
Property investment has achieved an almost religious following among a large swathe of the country’s population – zealous in their devotion to building portfolios. It’s understandable of course. For starters, home ownership is so deeply ingrained in our nation’s psyche that we’ve classed it as ‘The Great Australia Dream’… and this appeal has flowed into…
Read MoreDo you know how many investment properties you need to retire on?
In a way, I hope you don’t have an answer to that, as the number of properties isn’t really the answer. You could have ten properties worth $200,000 on 90% interest only loans in areas with no growth. Or 3 blue chip properties worth 1.5m each returning 7% growth per year unencumbered. The true answer…
Read MoreThe NSW Stamp Duty fallout: my three big predicted outcomes
There’s been a cacophony of opinion this week filling column inches and taking over the airwaves of property centric media. Refreshingly, the big news wasn’t pandemic related. Nor did it involve a concession speech of any description. No, the chatter has been dominated by a NSW government discussion around the abolition of stamp duty which…
Read MoreHow to claim working from home deductions and depreciation
We have been transitioning from the workplace to the home office slowly over the years but throw a pandemic into the mix and we are now talking about a mass migration! In fact, research from Roy Morgan shows over 4.3 million people (32% of working Australians) have been ‘working from home’ (WFH) during the last…
Read MoreIt’s never too late to claim depreciation. Well, except when it is
The other day I saw someone in an interview say “It’s never too late to claim depreciation.” Now in fairness, perhaps in the following sentence, they added some caveats but even though I tuned out and got back to work, I don’t think that’s a prudent way to start a discussion about deductions, whether you’re…
Read MoreReview of the Ripehouse Advisory COVID-19 vs Australian Property Report
I recently took part in the Ripehouse COVID-19 survey along with 146 other industry experts and academics and have now been able to view the report in full. I commend the team for putting the report together, especially during such a fluid and evolving set of circumstances. Real estate is such a pivotal part of…
Read MorePercentage of property investors with an ‘in-depth audit’ from the ATO
What percentage of property investors had an ‘in-depth audit’ from the ATO in 2019? Last year the ATO announced that they doubled the number of in-depth audits to 4,500, due to an error rate of just under 90% on a sample of investor tax returns. Speaking at the Tax Institute’s National Convention in Hobart, ATO…
Read MoreDepreciation and the Instant Asset Write-off – Economic Stimulus Package 2020
Here’s what you need to know about the changes to depreciation allowances and the instant asset write-off changes as part of the Governments $17.6 billion coronavirus economic stimulus plan. What has changed? The instant asset write-off – The turnover cap and the asset value threshold have increased The Government has committed $700 million to increase…
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