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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…
Commercial landlords in New South Wales will now be required to offer rental relief to tenants with an annual turnover less than $50 million under an extended state support scheme.

NSW Extends Commercial Tenancy Relief

Emma Zajac
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Commercial landlords in New South Wales will now be required to offer rental relief to tenants with an annual turnover less than $50 million under an extended state support scheme. The NSW government last week announced the reintroduction of national cabinet’s Mandatory Code of Conduct for Commercial Leasing, which will mandate rent relief for eligible…
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…
Empty Office space due to coronavirus

COVID-19 | Small & Medium Businesses Granted Rental Waivers and Deferrals

Emma Zajac
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Small and medium businesses will now be granted rental waivers and deferrals under a mandatory Code of Conduct unveiled by Prime Minister Scott Morrison. Under the Code of Conduct, landlords will be required to reduce rent proportionate to the trading reduction in the tenant’s business caused by the coronavirus pandemic through a combination of waivers…
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