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Taxes are unavoidable in life, and it’s no secret that when you sell your investment property you’ll be up for capital gains tax (CGT). You might not be able to avoid paying tax altogether, but can you reduce the amount of tax you pay? You’ll be pleased to know that yes – there are simple…
If you’re considering moving to a new property, understanding property taxes is a necessity. After all, you can’t plan your budget if you don’t know how much money you’re giving to the government in the form of taxation. Read on to find out more about property taxes, how to estimate property taxes and how to…
The first step to getting a new property development off the ground is to ensure the project is properly financed. Many developers, particularly inexperienced ones, underestimate how much capital they need, which can result in costly delays and project overruns. In this article, we are going to explore finance for property development. We’ll discuss what…
Are you a property owner? Or perhaps you’re a management company that handles the ins and outs of property for multiple clients? Understanding the property accounting basics is a good starting point to ensure you meet all your obligations. Much like any other business, accounting for an investment property has clear rules and requirements to…
Property tax can seem confusing, but it’s not impossible to understand. In this blog post, we provide tips on how you can understand these numbers across different states and properties, but it’s worth noting that other factors can sometimes impact these calculations. Property tax rates in Australia for land tax There are four main types…
Imagine you’ve just invested in a property with the plan to develop it and sell it on for a profit, when you’re asked to pay goods and services tax. Australia doesn’t have a universal “property tax”, rather, there are many sorts of taxes that apply to different circumstances. If you’re buying, selling, investing, or simply…
Tax is one of those living expenses that we might not necessarily like paying, but is essential in helping society to function properly. Taxes help both the national or federal and local governments pay for essential local services and projects.
With June 30th fast approaching, small businesses around Australia are busily ensuring their tax obligations are met. However, in the rush to meet the June 30 deadline, it can be difficult to keep track of the changes coming into effect on July 1st. The changes include increases to the national minimum wage, ASIC fees and…
If you’ve ever worked for a company that offers private health insurance, gym memberships, or property as part of your employment, then you’ve likely already received some form of payroll tax fringe benefits. As a practice used by many businesses across Australia, fringe benefits are an excellent way to stay competitive, provide added value to…
While taxes may not be the most thrilling of subjects to talk about, it is a necessary factor of a functioning society. Therefore, it is useful to understand the different forms of taxes, and essential if you’re running a small business that employs staff. One of the common areas where people are uneducated is the…