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Tax Questions Answered
Question I would like to request for Taxation advice including applicable CGT (for the beneficiaries) after selling my Mother in Law’s house in Perth as executor of her will. Background information Queries from an after-sale CGT (for the beneficiaries) perspective Queries from an annual tax return perspective Please let me know if you need anymore …
Question My question is my husband and I bought dilapidated house 14 yrs ago for approx 820k as our PPOR (we have no investment property) and went through kitchen and bathrooms reno in between. Late 2024 we knockdown and started building a duplex, subdividing titles. We took construction loan for 1.9m for the duplex built, …
Question Related to CGT.Bought a farm in 2016 500 acres.Paid $915K + CostsValued house and 2 hectares worth under $200K house was practically unliveable.Was our PPOR form 2016 to 2019.2019 a solar farm leased it off us so was generating an income but we moved our PPOR to another property. From 2016 to 2019 while …
Question I am currently 66 years old, due to turn 67 at the end of April 2026, my wife is currently 63 due to turn 64 in August 2025. We are both retired, living mainly on our pensions from our Super. I have around $1 Mill all in Pension Mode, and another $350K in Australian …
Question BACKGROUND FACTS QUESTIONS Answer BF can only salary sacrifice income that is earned after he notifies his employer that he wants to salary sacrifice. In the case of a bonus the notice needs to be given before the bonus “accrues”. Looking at the figures you have provided, if I understand them correctly. 2022-2023 received …
Question I hope you’re well.I’m seeking your professional advice on a tax matter regarding interest deductibility relating to client’s former principal residence, which became an investment property in 2019. Here is a summary of the situation: I understand that the ATO generally bases interest deductibility on the use of borrowed funds, not the security of …
Question Background:I am an Australian citizen and my wife currently holds Hong Kong passport. She obtained the partner PR and is now getting annual Australian Resident Return visa (subclass 155). I moved to Hong Kong in 2008 and has been a non-tax resident since then. In 2015, I purchased a house in Sydney for AUD …
Question Hi Julia,Its great listening to your advice on the Property Couch. I e-mailed you through Empower Wealth and I was directed to this site.I was hoping I could get some clarification on a property purchase/transfer to see if we proceed and execute it correctly if it will have the best financial/Tax outcome for us …
Question I am about to draw just under $200k in equity from my home. I intend to instruct the mortgage broker to split the loan. There will be two offset accounts. There will be the existing home loan which will be linked to one offset account. There will be a second loan linked to the …
Question We have been fortunate enough to enter the property market in multiple cities and have seen great growth over the years. We have sold one property and we will be selling another one of our properties soon. We are looking at the capital gains and in particular, how we can limit the amount of …
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