All Entries in the "Tax Tips" Category

Maintenance Issues To Fix?

There are 3 weeks left until the end of the financial year so it is time to get those last minute repairs done if you want to claim them in this financial year.
Maintenance Expenses
Property maintenance expenses are those that are incurred in bringing the property back to a safe standard.  It could be replacing a [...]

Do You Manage Your Own Investment Properties?

Property investors often manage their own investment properties, especially retired or semi-retired investors.   The tougher financial conditions that we have all experienced has seen some investors take on their own management in an endeavour to save costs, or make some extra money, whichever way you look at it.  (Is the glass half full or half [...]

Buy An Investment Property Now for Tax Benefits This Financial Year

Many buyers who go to contract on a property do not actually realise that the date that a property is ’sold’ is the date that the contract is dated as signed by all parties.  It is not the settlement of completion date.
This means that should an investor be hoping to gain some extra tax benefits [...]

Tax time again!

Yes, property investors,  it is that time again when the end of the financial year is nigh!
Are you organised?  Is it time to sort through that paperwork so that everything can be delivered to the accountant quick smart at the beginning of July?
Save yourself some accountancy fees:

if you own several properties then make sure [...]

Auction clearance rates are improving

Figures put out by RealEstate.com.au showed that clearance rates at auctions have improved quite remarkably in the past year.  They were quoting figures for December 2009 and the following are the top 5 for clearance rates:

78.4% Melbourne
76.9% Canberra
72% Sydney
53.9% Adelaide
50% Tasmania

Given the fact that an auction contract is a cash contract, buyers are obviously ready [...]

Land Tax calculations for New South Wales

Property Investors are charged land tax in all states and territories of Australia.
As in all areas of Australia, Land Tax is payable on the total value of land held by an owner, be it a sole owner, joint owner, trust or whatever.  Various states have different rates of land tax so if you own properties, [...]

Interest rates up again, no surprise really – Tax Variation

Rising Interest rates and Tax Variation
The fact that interest rates were put up again this week didn’t surprise too many people given the fact that there was not an interest rate rise in February.  Property investors need to be prepared for this as there will probably be a few more this year.  View our stategies [...]

Land Tax in Queensland

Following is a chart with the Queensland Land Tax rates. For examples go to Queensland Treasury land tax. “Land tax is assessed on the taxable value of an owner’s total land-holdings.”
Rates for individuals (other than absentees, companies or trusts)
Taxable value
Rate of tax
$0–$599,999
$0
$600,000–$999,999
$500 plus 1 cent for each $ more than $600,000
$1,000,000–$2,999,999
$4,500 plus 1.65 cents for [...]

Understanding Capital Gains Tax

For starters, as most people are aware, there is no Capital Gains Tax on your principal place of residence.  The Capital Gains Tax laws relate to properties investment income or properties from which you intend to derive an income.
* The first and foremost point to understand about Capital Gains Tax is that it is [...]

Purchasing A Property In The New Year?

Although the RBA seems to be of the opinion that consumer spending is proving that the country is in an upswing, the financial lenders have yet to join the party.
It is still difficult to arrange a loan and for this reason there are not that many people being able to bid at auctions for fear [...]