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Tax Questions Answered
Question Thank you for providing me with excellent advice in the past. I have a question about tax residence. I moved to Europe in April 2022 to take up long term employment for an international company. At the time I was on long service leave at my Australian company and did not do any work …
Question My husband and I are updating our wills as both our Adult daughters are no longer dependents. We don’t want to create any unnecessary CGT issues for our children after we pass in relation to testamentary trusts. Our main assets are properties (our PPOR est Value $7M and 5 investment properties approx $5M net). …
Question My question has two parts, in relation to CGT on the sale of investment property. a) from the 2018FY all owners of investment properties have been unable to claim traveling expenses related to annual inspections, or travel to carry out works at properties between tenants. I have kept detailed account of all such travel …
Question Personal Background We are planning to move to England this year. We live in a home in Victoria that we own (still have mortgage on it). It was our PPR for 12 months, then we used it as an occasional weekender and rented it out on other weekends. For the past 18 months we …
Question Capital Gains Tax Query – URGENT PLEASE A couple are getting divorced and there is a property that is sold and we need to work out the CGT implications Property sold – Property A which has a Granny Flat. Property is located in NSW Property B My Query I need to calculate the net …
Question Hi guys, I’m looking at purchasing an established investment property this year, which I plan to subdivide into a battle axe configuration. With the result being the existing property and land at the rear. I’m looking at the numbers for selling just the land as a house and land package or building a unit …
Question CLARIFICATION OF COST OF CGT ON PROPERTY SOLDI have had conflicting information from two different accountants re the sale of a property. Below I have outlined details.This property belonged to my mother-in-law and when she passed in 2002 it was left to my husband in her Will.Valuation Years The property sold for $500,000 and …
Question My Partner and I are both Australian citizens working and living in NZ , we have bought and lived in our house now for 4 years and we are thinking of selling our house in NZ and moving back to Australia .So far we understand there is no CGT payment required as we are …
Question Hi we are thinking about moving abroad this year with a trial period beforehand, and plan to sell our PPOR (ownership is joint tenants) as a precaution.The purchase price was $525,000 and sale price will be approximately $1m. Our original idea was for my wife to transit first with the children and start setting …
Question My question is about the deductibility of bathroom renovation costs following a leak that revealed that the entire bathroom floor and shower walls had not been properly waterproofed when the place was initially built (cca 2009). I purchased the property in 2014 and rented it out for several years, until about 2020. I then …
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