Ask Ban Tacs
Tax Questions Answered
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 …
Question HiI will try and be clear but there’s a few parts to my question. We live in Brisbane, renting at the moment as we’ve recently sold our PPR in Central Qld. Approx 6.5 years ago we bought a house in Victoria intending to retire there in the future. It has been rented out since …
Question Hi,I am working on a yacht and have been for the past 5 years. I have been living abroad (from Australia) since 2010 (but spent two years in London – submitted a tax return there). I need some advice with handling my tax situation in Australia, could you help me with this?The longest period …
Question Hi Julia,My family trust (of which I am a beneficiary) has owned a house for 5 years. It has been rented out for the whole 5 years and interest has been claimed as a tax deduction, on the loan against the house. The trust has losses of 100,000.If I move into this house,as my …
In addition to the Ask Ban Tacs service, the BAN TACS Accountants group offer a selection of digital products to help you including Getting Your Affairs in Order, The Property Cashflow Calculator and The Capital Gains Tax Calculator.
Visit the BAN TACs Shop