Investment Property
PAYG Income Tax Withholding Variation
Do you own a negatively geared investment property?Your employer is required to withhold tax during the year to cover your estimated tax liability from your employment income. However, those who have a negatively geared property investment will have less taxable income than their employer estimated, due to their rental property loss offsetting their employment income. In these cases, the employee does their tax and gets a tax refund for the overpaid tax at the end of the year.
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ATO property data match could affect honest owners
Late last year the Australian Taxation Office (ATO) announced its intention to acquire details of property transactions dating back to September 20, 1985. Yep, 1985! The scope and amount of information they are requesting is gigantic!
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Investing in Commercial
Most property investors are comfortable with residential property, having owned or rented themselves, but commercial property investment can be a little more daunting. The main reason for this is that there are so many additional factors to consider, such as GST, complicated leases and who’s responsible for the outgoings (expenses) for the property.
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Self-Managed Superannuation Fund Borrowing Gets the Government’s Green Light
It's good news! Self-Managed Superannuation Fund borrowing has been given the green light to continue by the Government despite the FSI report.
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