Tax Questions Answered

This advice is general in nature and should not be acted upon without first obtaining professional advice on your particular circumstances.Please note that the answers, to other people’s questions, that you see here, are very specific their question. You cannot rely on them for your particular circumstances. Further, if you do askbantacs, before you act on your answer, you need to run it past your Accountant, who will understand the wider implications to your particular situation.

Monthly archives: March, 2022

What Can be Claimed When Getting a Property Ready to Rent

Question My question relates to initial repairs and how the ATO classifies an inherited property. Our ancestral home in Qld was bequeathed to me in May 2021, and the title was transferred the following November. I was initially undecided as to whether I should sell the property or lease it out, as I currently live …

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