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  1. J

    tax deducting repairs when converting PPOR to IP

    I'd have thought the costs of preparing the property to be rented would all be capital.
  2. J

    Is any property that is not your PPOR subject to CGT?

    If I purchased a property overseas (and have never owned another property at any time, anywhere else in the world) and left it vacant until a few years later when I was able to establish it as my main residence by moving overseas and living there for a few years, would it still be subject to CGT...
  3. J

    QS Report for overseas investment property

    How do you go about obtaining a QS report for an overseas investment property?
  4. J

    Renting to a relative at below market rental rate?

    I have a feeling intention will play a big part. Was your intention to make profit or for a private or domestic purpose or both? Expenses incurred in the pursuit of rental income will be an allowable deduction to the extent to which they are losses or outgoings of capital, or of a capital...
  5. J

    Tax deductability new property

    Repairs vs improvement is a subjective area of tax so not all accountants will interpret and apply the rules the same way. Ask them both why they made that decision and see which argument you agree with.
  6. J

    Do you find errors in your tax done by accountants?

    If every accountant worked like you, where would Jenny get relevant work experience? It's in the best interests for the profession and the community for firms to operate like that so that the next generation of accountants can get an opportunity to develop. Otherwise there will be a skills...
  7. J

    1 property in AU, what happens if I am non tax resident

    That's exactly right. My guess is they're trying to keep some foreign income/investment off the ATO's radar. Either that or they've been grossly misled. As for the market valuation, I think an appraisal by a real estate agent will suffice but I'd like to get a second opinion on that.
  8. J

    1 property in AU, what happens if I am non tax resident

    Yes, that's a possible scenario. The 183 day test is one of the tests to determine residency, but passing or not passing this test alone (or any other) isn't enough to establish residency for tax purposes. You look at all the facts and then see which argument is stronger.
  9. J

    CGT Main Residence Exemption

    Makes more sense when you argue that it's sort of a CGT relief for certain taxpayers. Just thinking out loud and playing devil's advocate here. Is the 'relief' necessary if those taxpayers have the choice of not renting out their homes for additional income? They'll still remain CGT exempt...
  10. J

    1 property in AU, what happens if I am non tax resident

    I see it as 3 different issues. 1. Residency Residency for tax purposes is a grey area of tax. The following link are the tests you should use to determine your residency for tax purposes...
  11. J

    CGT Main Residence Exemption

    Hi everyone. This is my first post but I'm hoping to contribute more in the future. Anyway I was hoping some tax professionals could help me with my question. Why is the main residence exemption only available if you move out completely? e.g. Scenario 1 If I bought a house...
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