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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 …
Question My name is Lisa Lark. I read the article titled "Do the sums before bequeathing shares to your children" appearing in the Age on Wednesday, June 28, 2017. I was hoping to ask a specific question in relation to the article, being:My son inherited shares from my aunt under a testamentary trust. She died …
Question Roger and Irene purchased their residence in 1963 as joint proprietors. Irene died in 2009. Roger died in 2012 leaving a Will under which he left all of his assets, including his property equally to his three children Mary, Diane and Yvonne. Probate of his Will was taken out by Diane in 2012. The …
Question I want to buy properties, subdivide them and then flip them for a profit. I want to do this continuously. Is setting up a private company the way to go?I have an accountant but want a second opinion. Say I purchase a property. In the P & L, is the purchases of property classified …
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