How Capital Gains Tax can impact the sale of your property

When you sell an asset (let’s say a property), you … Continued

Negative Gearing your Rental Property to Reduce Tax

While negative gearing is a method commonly applied to rental … Continued

Home Office Expenses – The Basics

Home Office Expenses – The Basics This is a topic … Continued

When is my Hobby a Business?

Most businesses stem from a passion, and many passions show themselves in our recreational and hobby activities.  The lines begin to blur when we start making money from what we love, whether it be a full time or ‘spare time’ pursuit.

Motor Vehicle Deductions – The Basics

The methods for claiming your car expenses have changed in the last 12 months in an effort to ‘simplify’ the way deductions are made.

2016 Tax Planning Tips

Tax Planning Tips for 2016! Find out how to minimise your tax with a few easy steps.

Investment Property Deductions

You’re looking to buy an investment property and wondering how it will affect your tax situation?

Firstly, it’s important to note the difference between a residential or commercial property. If you purchase a residential investment property, there is no GST applicable. This also means you cannot claim any GST, however a commercial property will require you to charge GST and lodge BAS on a Quarterly basis. There will also likely be GST on the purchase and sale which you need to consider.