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Tax Questions Answered
Question In 2004 we bought an old free-standing house to live in after our first child was born. We moved in immediately and remain there. It is the only property either of us have owned that has been eligible for the main-residence CGT exemption.The house is now very run down and too small (only two …
Question Hi, I have a ppr that I have owned since 1996 jointly with my then husband which we bought for 266,000. We seperated in 2008 and I bought out his share at 740,000 but paid no stamp duty as proceeds of divorce. If I knock down the house and build a duplex and live …
Question I purchased my unit in Australia in an of the plan contract dated 23 August 1994 (the transaction date was 13 November 1995) for $179,900 while I was working in Papua New Guinea as a non resident of Australia I did not occupy the unit until 14/12/2000.When I brought the unit it was always …
Question Thank you for your response to my granny flat question last year (see below).We have now commenced building the granny flay and I am reconsidering whether the granny flat should initially be treated as a secondary dwelling.Our family circumstances are such that it makes sense for my Mum to move in for a period …
Question Hi JuliaWe met at the We Find Houses seminar last month. I have a house that I own in my own name, and have tenanted in Adelaide. My then husband and I bought the property in 1997 and then I bought his share of this as part of a property settlement in 2004. I …
Question I own a self managed super fund. The fund purchased land (GST free) 3 years ago and soon after built a residential premises. The property is not being rented, instead it will be held by the fund for 5 more years as an investment then sold to myself (member of the fund). The fund …
Question Hi. Thankyou for the opportunity to achieve some hopeful clarity on a confusing situation during a difficult time. My father now resides in a high-care dementia facility and I feel he may not last out the year. His family home of 50+ years is currently vacant, and somewhat derelict, so, unrentable in it’s current …
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 …
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