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The ATO has noticed some common errors made in activity statements since the introduction of ‘GST at settlement’ on 1 July 2018. These new laws require purchasers to withhold GST on settlement (and pay it to the ATO directly) generally when buying ‘new residential premises’ from developers. In particular, the new ‘GST at settlement’ law does […]

What is depreciation? As a building gets older and items within it wear out, they depreciate in value. The Australian Taxation Office (ATO) allows property investors to claim a deduction relating to the building and fixtures it contains. Depreciation can be claimed by any owner of an income producing property. This deduction essentially reduces the […]

The ATO has extended its data matching program, this time focusing on share data. The ATO will continue to receive share data from ASIC, including details of the price, quantity and time of individual trades dating back to 2014, with more than 500 million records obtained. The ATO will use the information to identify taxpayers […]

Does the idea of buying commercial property instead of renting your current business premises appeal to you? Or are you undecided whether to purchase a commercial investment over a residential property for your portfolio? It can be hard to understand the tax depreciation allowances that are available for investors of commercial property over those found […]

Over the past two days, global sharemarkets have fallen significantly due to growth concerns. One of the catalysts is the concern that rising US longer-term rates could lead to slower US and global economic growth. The second issue is the ongoing concern that the US-China trade frictions could develop into a more significant and protracted […]

Are you an investor who’s heard about the benefits of depreciation and have decided to start claiming? That’s great news for your investment. Claiming depreciation will help you maximise the cash return from your investment property. As a non-cash deduction, depreciation is a quick win for investors and requires minimal effort on the owner’s end. […]

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