Main residence exemption myths and misconceptions

Main Residence Exemption Myths and Misconceptions

The surge in the residential property market continues to attract buyers and sellers, many involving the family home. This article considers the common myths and misconceptions when it comes to being eligible for the main residence exemption. When it comes to taxation, the family home is sacred. It is often the largest asset a taxpayer…
Aerial view of Suburban Houses promoting property investment

Expert Warns, Invest In Property or Watch Savings Dwindle

Money is cheaper than it’s ever been on the back of a favourable interest rate environment, compelling Aussies to shift away from other types of investment vehicles and into property investment. Non-traditional property investors are looking to pounce on the favourable interest rate environment and dabble their feet in property, founder and director of Rethink…
Big Banks Outline Mortgage Repayment Relief

Big Banks Start to Release Loan Package and Mortgage Relief Options

The major banks have outlined how they are supporting those affected by the coronavirus pandemic and its economic impacts, including mortgage repayment relief and interest rate reductions. On Thursday (19 March), the Reserve Bank of Australia (RBA), the federal government and the Australian Prudential Regulation Authority (APRA) announced a raft of new measures to support the domestic economy in the wake of the…
Family Home Living Area

Clients Warned On CGT MRE Changes: ‘Don’t be too clever’

Clients affected by changes to the main residence exemption have been urged to be “very careful” when attempting to navigate the transitional provisions, with anti-avoidance rules potentially applying. Late last year, the government passed changes that would deny non-residents the CGT main residence exemption for CGT events that happen on or after 9 May 2017,…

Blog | Paying Land Tax On Property You Own

It’s land tax time of year! Whether you need to pay land tax on your property depends on: the type of land what it’s used for, and its total value as at midnight on 31 December each year whether you meet the definition of a foreign person for land tax purposes. Exemptions and concessions In…

The Garis Group/ Aged Care

How to Avoid Aged Care Nasty Surprises

Understanding the rules around your former home for both the pension and aged care is critical if you want to avoid nasty surprises. And if you do receive what I call the “OMG letter”regarding aged care,  understanding the rules will help you make the right decision. For the purpose of calculating your cost of aged…

When is the Best Time of Year to Start Building?

  For people building their dream home, one of the biggest questions is about timing. When is it best to start work? A recent article from Realestate.com has the answers your looking for.  The average Australian house can take anywhere from four to 12 months to build, depending on the builder, construction method, complexity of the…
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