Posts Tagged ‘ato’
Why buying brand new is now the key to maximising your tax deductions
People often ask me questions like “I should buy a new investment property because it’s better for tax right?” The answer is yes and at the same time, no. Buying a brand-new property because of the available deductions is not a sophisticated strategy. Accountants tell me the same thing, people say they need an investment…
Read MoreDraft Legislation for Depreciation Changes Issued by Treasury
On Friday the 14th of July, the treasury finally issued their draft legislation relating to the changes to depreciation for plant and equipment items. Personally, the most positive thing about the draft is that it’s silenced the fear-mongering commentators saying that depreciation on plant and equipment would be stripped from new properties. This was never…
Read MoreTax Depreciation Calculators – Is there merit in the estimates?
Google is telling us that more and more people are searching for a ‘tax depreciation calculator’. Admittedly, this search ranked well below the top 2016 result of ‘US Election’ and even a few million short of number 6 ‘Pokemon Go’. Putting the self-deprecating Quantity Surveyor stuff to the side for a moment, searching for an…
Read MoreCapital city dwelling values up, with pace of growth slowing.
Across the combined capital cities, dwelling values have increased by 7.1% over the 12 months to September 2016, a figure much lower than the 11.0% increase in values over the previous 12 months. So, whilst dwelling values certainly aren’t tracking sideways, the pace of growth has slowed markedly, yet is still relatively strong. Rental rates…
Read MoreCoreLogic dwelling values rise in September, RBA place doubt over previous figures
The month of September was a good one for capital city dwelling values, with all but Perth and Darwin trudging forward. Capital city values are also up 2.9% over the quarter. On these figures though, there has been a lot of coverage of the inflated CoreLogic figures for April & May. In RBA governor Glenn…
Read MoreCombined Capital City Dwelling Values up, led by Sydney & Melbourne
Sydney and Melbourne continue to post strong results, showing a consistent 1% growth per month in dwelling values, with the sum of regional areas relatively flat. In Sydney and Melbourne, cumulative growth in dwelling values over the cycle (June 2012 to date) now stands at 64% in Sydney and 44% in Melbourne.This result highlights the…
Read MoreOverseas Investment Properties & Depreciation
Whilst it’s certainly not the sort of reports we target, a number of our clients own investment properties overseas. If you’re claiming the rental income in Australia, then you’re entitled to minimise your tax via having a depreciation schedule completed. To date we’ve completed many reports for overseas investors in places like the United States,…
Read MoreSydney leading the charge as dwelling values rise in May
Whilst month on month figures are a little haphazard, the last quarter has seen Sydney prices grow by 6.6% with Perth and Hobart the only capitals in negative territory. Our current property growth cycle comes to around 4 years now since May 2012 and values have risen 36.6% to May 2016. Sydney’s growth for this…
Read MoreInside a 2.5 million dollar northern beaches holiday home
There are certain pockets of Australia we find ourselves coming back to alot, and fortunately one of those places is Bynya Road, Palm Beach. We were engaged to prepare a capital allowance & tax depreciation schedule on this stunning holiday home. Estate agent Amethyst McKee described the property as a “charming timber and sandstone home…
Read MoreBudget 16 Property & Tax Changes
Negative gearing has thankfully been ruled out as an area the coalition will be attacking to provide budget savings. Any policy which creates a disincentive to self-fund your retirement is a ludicrous one in our view. Not to mention the net tax result of a diminishing property market. So what has changed in the…
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