ato

ATO Page On the face of it this appears to be welcome news for those that have properties on bare trust. I must admit I was surprised to see this as if limited recourse borrowing is going to be banned why even bother going to the effort of releasing new rules - unless the intent is to just...

I have just refinanced to open a line of credit which is to be exclusively used for property investment. We had to leverage to 90% to get a satisfactory amount, thus incurring LMI. I mistakenly believed the LMI would all be placed on the LOC (tax deductible over 5 years as an investment expense)...

Does ATO data matching actually work or is it all mostly bluff to scare people into declaring everything ? I declare everything so have nothing to worry about but I know someone who has not declared any property income on a place rented out for over 10 years through a real estate agent, the...

Hi, If I'm purchasing a PPOR off the plan, does anyone know if the related bank guarantee fees are deductible? They are usually charged every 6 months. It seems unfair that all the interest is taxable but due to the bank guarantee fees; I'm actually only receiving a proportion of the...

I'm debating whether to make a voluntary contribution of $1k into my super for the co-contribution. I earned $30k gross this financial year but had $40k rental income (and $40k deductions). If I owned the IPs on my own, my assessable income would be $70k so I wouldn't be eligible for the...