Australians love property and the lure of a 15% preferential tax rate on income during the accumulation phase, and potentially no tax during retirement, is a strong incentive for many SMSF trustees to dream of large returns from property development. We look at the pros, cons, and problems that often occur. An SMSF can invest …
Buying your first home is an exciting milestone, but it can also be a daunting process filled with complexities and decisions. As a first-time homebuyer, you’ll want to ensure that you make informed choices that align with your financial goals. In this blog post, we’ll explore key considerations for first-time homebuyers, with a special focus …
Buying your First Home: Business Accountant Insights Read More »
The Australian Taxation Office (ATO) has launched a full-on assault on rental property owners who incorrectly report income and expenses. The ATO’s assessment, based on previous data matching programs, is that there is a tax gap of around $1 billion from incorrect reporting of rental property income and expenses. And, they would like that back …
