While I don’t disagree with the Australian government’s decision to allow people to take out $10,000 one year and $10,000 the next due to Covid-19 – I do not view it as a lifeline.
I view it as having a massive night out – but the hangover could last the rest of your life.
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If you have income from investment properties, now is the time to start gathering your records and reviewing your expenses for the 2021 financial year. Income to Declare All income earned from each property must be declared. If you have multiple properties, keep the records for each property separate to make the tax return more […]
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Property Purchased = Cost Base for Capital Gains Purposes You probably already know that the Building and Pest Inspection (and also your Conveyancing Costs) form part of your Cost Base for Capital Gains purposes. This means unfortunately that you do not receive an immediate tax deduction for them, but that they reduce your capital gain […]
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