Capital Gains
What You Need To Know Save this PDF for Future Reference There are three rental expense categories, those for which you: Can claim a deduction in the income year you incur the expense, for example, interest on loans, council rates, repairs and maintenance, and depreciating assets costing $300 or less. Can claim deductions over multiple …
Unlocking the Secrets of Deductions: A Holiday Home Owners’ Essential Checklist It’s essential for property owners to understand the intricacies of deductions associated with their cherished holiday retreats. However, as the holiday season approaches, they may find that their holiday retreats become a valuable source of income. To ensure you make the most of your …
Tax Audits An additional 10% capital gains tax (CGT) discount may be available when you sell an Australian residential rental property that you used to provide affordable housing. This will increase the potential maximum capital gains discount percentage on your sale from 50% to 60%. What Is Affordable Housing? For the affordable housing CGT discount …