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Main residence exemption myths and misconceptions

Main Residence Exemption Myths and Misconceptions

Emma Zajac
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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

Emma Zajac
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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…
Tax time 2020: ATO homes in on rental deduction claims

Tax Time 2020 | ATO Homes in on Rental Deduction Claims

Emma Zajac
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Rental deduction hotspots for this tax time have now been identified by the ATO as it anticipates a change in claims because of COVID-19 and recent natural disasters. Rental deduction claims continue to be a focus point for the ATO leading into tax time 2020, with the agency doubling its in-depth audits last year on the back…
picture of a family home with toys on the floor

CGT and the family home: expats and foreigners excluded from tax exemption

Emma Zajac
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Late last year, legislative changes were made that exclude non-residents from accessing the main residence exemption. The retrospective changes directly impact foreigners and expats whose main residence is in Australia or overseas. We explore the impact. Key points ·       Non-residents for tax purposes excluded from the main residence exemption from 9 May 2017 ·       Transitional…

Rental properties – claiming travel expenses deductions

Emma Zajac
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From 1 July 2017, travel expenses relating to a residential investment property are not deductible. A residential premise (property) is land or a building that is: occupied as a residence or for residential accommodation intended to be occupied, and is capable of being occupied, as a residence or for residential accommodation. Under the new legislation, you…

When is the Best Time of Year to Start Building?

Emma Zajac
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  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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