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Tax Questions Answered
Question A client purchased a property in 2000 and immediately rented it out. 18 months later he moved back into the property, and then moved out again after 2 years. He then moved back in for three years. He then moved out and then rented it out again for 7 years, and has now sold …
Question We have just sold our property and intend to place some $300,000 each into our SMSF as a bring forward non concessional contribution, and intend to buy an investment property. We are the trustees of the SMSF and not yet retired but close to it. The value of the investment property is more than …
Question I am seeking your advice about using a loan from my parents to refinance an investment loan. The background is that I have a $200,000 loan with a bank that was used to purchase dividend paying shares. The loan was a new split facility (secured against a property), and the funds from this split …
Question My question centres around maintaining deductability on an investment loan, but I have provided a lot of background information for you first. Current: – I have a Rocket Repay Home Loan with Offset (Westpac) secured against my PPOR. – I am still within the 5 year interest only period of the 30 year loan …
Question My client operates as an Australian based company, who travels overseas to inspect airline facilities and report on their conditions.He invoices another Australian based company for the work he’s done.I think my client should add GST to his invoices as his supplier is Australian based.However, the supplier then invoices a German based company for …
Question Hello,I would like to come back to my question on Friday 29 Sept and your response #846 about my situation for capital gain tax clearance for non-resident for tax purpose.Is there any guarantee that I can claim back the whole amount from the 12,5% selling value withheld or I can only claim part of …
Question I’m an investment owner in a NSW residential strata building that is registered for GST.We’re about to undertake a major repairs to the common property, and have arranged a strata loan (at the body Corp level) which is be repaid with interest over a number of years, drawn from the owners levies.GST is normally …
Question I purchased a property in 2012 for $920,000 then registered it as place of residence and lived there for 10 months then left Australia in July 2013 because I had a job offered oversea.Since then, the house has remained as place of residence with all my utility bills are still sent there. My parents …
Question RELEVANT FACTS• Mr A purchases Property X and moves in – Dec 2006.• Mr A marries Ms B and moves into her property (Property Y) – Mar 2010.• Mr A signs a rental agreement with a real estate agency for Property X – Jul 2010. Rental income is declared and expenses claimed over the …
Question Hi,My situation is as follows:– I left Australia to work in South Africa 5 years ago and plan now to return in around 2 years from now.– when I left I had a residential house (primary) and holiday residence– 2 years after leaving I sold the residential house and retained the holiday residence.– the …
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