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Question Married couple Australian Citizens with Current Non Resident tax status (residing in country without tax treaty) is considering purchasing land with a current house on it. The house could be rented out for a period if advantageous or demolished on purchase to subdivide into 3 blocks for sale. They just sold the last bloke …
Question I have two rental on the Gold Coast,one will have a capital gain,the other a capital loss,both properties have always made a loss.As I’m a New Zealander can these losses be used against the capital gain. As New Zealand an Australia have double tax agreement what tax rate would I be taxed if I …
Question This is a question about possible CGT liability on death of a partner. I have set out a fair bit of detail – the actual question is way down at the end… So Dad died recent 20th April 2018 aged 97. He and Mum lived at Bribie in a house they bought together as …
Question Here are the underpinning facts (I hope I have covered all that you need): My new wife bought her home (small townhouse on a very small residential block) in Feb 2005 for $330k – and moved into it immediately after settlement as her principle residence In Feb 2014 – my new wife moved in …
Question I own an investment property in Ballarat jointly with my ex partner (purchased 3 years ago), and part of the settlement arrangement is that I transfer the ownership to her 100%. What process is involved to implement this & is their stamp duty implications in doing so? Answer There is no CGT event for …
Question My land where I live could be subdivided into 2 separate side-by-side lots but the problem is that my house is “in the way,” as it sits in the centre of my block. If I demolished the existing old house, built a new home on ONE block and move in to the new home, …
Question I have three properties, they are as follows: One, was my principal place of residence but is now rented out, I have owned it for 12 months and it has appreciated by around 150K. (Purchased off the plan). Another, owned for 12 months small appreciation, currently rented, Investment property only. The third, currently under …
Question This question relates to renting out our apartment while travelling for work. My husband bought the apartment in the eastern suburbs (with mortgage) in 2006 that is in his name. My husband runs a medium sized not-for-profit company that puts on cultural events in Sydney, interstate and sometimes overseas. He also has a tour …
Question A client (a company) has purchased a new vehicle for use by the company. The Tax Invoice for the vehicle and the lending for the vehicle are both in the company name. However, in error, the vehicle name was registered in the name of the Director rather than in the name of the company. …
Question Hi, If an Australian Resident Tax payer who was posted overseas in Japan for a period of two years (He was based in Tokyo for the whole duration ) was paid the following allowance’s In addition to his normal salary: Expat Allowance- Taxed Location Adj- Taxed Trans Assist- Taxed Untaxed Cost of Living Allowance. …
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