Ask Ban Tacs
Tax Questions Answered
Question Hi Julia,I spoke to Lyn Gower today and she gave me your number. Tried calling you and got your voice mail.I understand the concept I’ve read in your publications regarding itinerant workers travelling around OZ. But all that I’ve read is skewed towards individuals.I’ve been running my own [accounting software support] business under a …
Question HiI’m looking to go non resident for taxation this coming financial year. Also I need to change accountants but firstly..Is there a checklist of things to do to become non res?Other than ticking the box on the way out of the country.Do i hand in my medicare card/account?Do i de-register my vehicle?Sell shares?I have …
Question I purchased a property with my wife in Jan 1986 for $125,000We separated and I moved out of the house in July 1996 and we were divorced in Feb 2001.The family law court orders in 2001 at divorce stated that my former wife could occupy the property and the property not be sold until …
Question Hi JuliaI typed out my question and pressed submit and it all disappeared. Here goes again.Can you please advise on the following. If we sold the battle axe block that I wrote about previously…rather than build on it, what would be the tax position be please? I don’t think gst would apply to the …
Question Extra payment for amazing reply. Also, it is so clearly written for easier understanding, which I appreciate. Thank you Julia. Regards Maddy Answer Wow, thanks Maddy
Question I bought a house 15 months ago. It is a corner block and I will be able to subdivide it. I paid $455K ex SDuty for it. The house is 815 sqm. The subdivision will leave me with the house being 500 sqm and the new land 315sq. The subdivision will cost around $30K …
Question I bought a house 15 months ago. It is a corner block and I will be able to subdivide it. I paid $455K ex SDuty for it. The house is 815 sqm. The subdivision will leave me with the house being 500 sqm and the new land 315sq. The subdivision will cost around $30K …
Question Hi Julia,I have a query around ensuring the future deductibility of interest on my mortgage.I purchased a property for myself and my wife to live in around 18 months ago at a 90% LVR. The loan for this was established as interest only with an offset account, given the expectation that at some point …
Question Hi JuliaBackground:I have a property that was purchased originally as my place of residence- and I lived in it for about 2 years, before moving and then renting it out. The loan secured over this property is for a total of $297000. The loan was originally a line of credit loan. After paying a …
Question When invoicing overseas clients for my work as consultant, will I need to charge GST? (I work through a company that is registered for GST) Answer Yes if the work is performed in Australia
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