Accounting & Tax

2017 Budget, Under the new rules which are yet to be legislated by Parliament, investors will be able to depreciate new plant and equipment assets within a new property and items they add to their property; however subsequent owners who acquire a property after 9th of May 2017 will not be able to claim depreciation on existing plant and equipment assets.

What attracts the ATO’s attention?   Tax or business performance which is not similar to businesses in your industry Low transparency in tax affairs Large one off transactions or wealth

Don’t be strapped for cash, scrap for cash Add value and increase deductions when renovating Australians have always had a passion for renovating property and recent predictions on renovation spending

Houses versus units ATO ruling makes common area claims less complex One question we’re often asked by investors is ‘will a house or a unit provide better depreciation deductions?’ This

Building more value, depreciation and new houses Choosing to build a brand new home rather than buy an existing property provides a number of benefits for potential investors. Generally these

Claiming the private health insurance rebate In order to encourage Australians to take out private health insurance, most people receive a rebate on their premiums from the government. This increases

1.Know what you are entitled to if you work from home.   If you work from home then some portion of the running expenses can be claimed as a tax

Claim depreciation on outdoor structures and save Australia is made for outdoor living, so it is little wonder that alfresco areas have become sought after additions in any property. Owners

The ATO has signalled a compliance focus on tax affairs of those who work in the sharing economy. With thousands of Australians now working through UBER AirBnb and others it