A withholding tax, also called a retention tax, is a government requirement for the payer of an item of income to withhold or deduct tax from the payment, and pay that tax to the government (IRS)....
A trust exists where there are assets legally owned by “a person” (trustee) for the benefit of another “person or persons” (beneficiaries); note that the definition of “a person” can include a company. While this article will focus on discretionary trusts there are various forms of...
The minute differences between what is a repair or maintenance or an improvement along with the completely different treatment of each of these means that this is one of the most confusing areas of tax law for rental property owners. It also means that it...
If the end of a financial year is fast approaching, now is the time to review your investment situation and take the opportunity to minimise you tax obligations and keep your funds in your pockets. Below is a number of tax planning hints, clues and instances that...
We get asked regularly how to calculate capital gains tax on the sale of a real estate property so we decided to give you an example so you can see how it works.Please note this calculation is applicable for individuals only (not a SMSF or company) Very simple...