Search results

In the absence of a private ruling then general principle of receipts based accounting applies to a individual taxpayer. I would also fail to see how a resi lease addresses a prop-rata entitlement for income being bought to account over the period to which it applies. Take care with...

That's random. What for tolls ? :D

Ok you take that one to the AAT, Federal Court and HC. The ATO consider it received by the owner when the REA receives it. REA Trust accounts are maintained in the name of the property owner and the vendor when its a sale transaction. (Their client). The account isn't in the tenant name.

Its income when received by the agent, you don't have to receive it yourself. You need to consider what your potential income/s will be like next year if you proceed. You could end up +ve geared this year and well -ve geared next. Marginla tax rates may or may not be the same. Then there...