Payroll and Land tax is handled at the State or Territory level. This is what is currently being offered: Queensland Payroll Tax Refund of payroll tax for 2 months If you pay under $6.5 million in payroll tax you should automatically receive an email regarding this...
What is the margin scheme? GST can be a hidden trap for property developers. This is because (unsurprising) the rules around GST on a property can be very confusing! In very general terms if you are selling a property that is considered "new" by the ATO,...
Another question from the common questions file. Our short answer is: Repairs and Maintenance are generally defined as a cost that repairs or replaces an existing item. That means if you replace an appliance with another comparable appliance then it will generally be Repairs & Maintenance, even...
While most people would have heard about capital gains tax (CGT) in relation to property very few know about goods and services tax (GST) implications on property. There can be GST implications for both the income received on an ongoing basis (for e.g. lease on a...
Both the Federal and State governments have made several changes over the last few months that affect foreign based property investors. Land Tax payable by foreign and non-resident land owners has generally been increased and is different in each state as is the definition 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...