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First home buyers have been delivered a boost in their spending power as they now have the option to pay an annual land tax instead. KEY POINTS A first home buyer purchasing an $800,000 property would save $31,090 in stamp duty if they chose to pay annual land tax instead. Or, they could borro...
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From 30 June 2023, when we calculate land tax, we will use the total value of your Australian land. This includes your taxable land in Queensland and your relevant interstate land. ‘Relevant interstate land’ includes land located in another state or territory that is valued under inte...
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Build-to-rent developments will be exempted from absentee owner surcharges for up to 30 years under changes unveiled by the Victorian government in an effort to bolster the burgeoning sector. It also announced that build-to-rent projects completed and operational before 2032 would be eligible fo...
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Consulting with an accountant as well as a quantity surveyor can help boost investment success. The complexity of depreciation unsurprisingly has many scratching their heads. While investors don't need to be depreciation experts, here are answers to some of the most common questions on this area...
Read MoreBMT Tax Depreciation has issued a critical reminder to property investors lodging their tax returns in coming months: any rental property improvements made last financial year must be captured in an updated tax depreciation schedule or risk making inaccurate claims. Investors who have renovated ...
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BMT Tax Depreciation has released its tips for tax depreciation. With tax time fast approaching, claiming depreciation is the key to increasing cash flow from an investment property. BMT Tax Depreciation has some tips for investment property owners when it comes to claiming depreciation at tax ...
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Home owners are out-earning some of Australia's top professionals, with rapid price growth seeing house values climb by more than $1000 per day in some cities. Houses are out-earning some of Australia's top-paid professionals, with price growth in some cities outstripping the income of surgeons,...
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One of the biggest deductions on a property investment available is tax depreciation. But not all property investors are aware of this and may not even order a depreciation schedule when purchasing a property. Through the years, many didn't know that this property tax depreciation exists at all. ...
Read MoreRevealed by latest ATO investment property statistics Depreciation remains the second highest deduction for property investors after interest repayments, according to the Australian Taxation Office (ATO). ATO investment property statistics recently released from financial year (FY) 2017/18 reve...
Read MoreAre you claiming all you’re entitled to at tax time? Find out what tax deductions you can claim on an investment property and maximise your deductions this June 30. Are you claiming all you’re entitled to at tax time? Find out what tax deductions you can claim on an investment pr...
Read MoreState and local governments collected a whopping $30.293 billion worth of property tax revenue over the 2017-18 financial year. If you were to compare these statistics to what was published last year, the figures would be vastly different. Previously, the ABS included stamp duties on conveyance...
Read MoreThe first CoreLogic Quarterly Rental Review for 2019, which tracks median rents and rental yields across Australia, shows that national weekly rents have risen by 1 per cent during the first three months of the year. “This seasonally strong first quarter has delivered the highest incre...
Read MoreThe NSW State Government have announced plans to change stamp duty price brackets. From 1 July 2019, stamp duty price brackets will be pegged to CPI (Consumer Price Index) resulting in savings for property buyers. Initial savings would be anywhere between $200 to $600 with those savings increasi...
Read More1. 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...
Read MoreAre 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 a new one, the...
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