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Tax Questions Answered
Question My wife and I purchased a house in December 2003 (purchase price $220,000) as she had returned to full time work and we saw this as a long term investment that would offset her not having much in her superannuation fund at the time. The house has been rented continuously over these 20 years. …
Question I bought a duplex unit in Tugun, QLD, in July 2010 for my mother to live in ($339,000). I was an Australian tax non-resident at the time and still am. The arrangement was that my mum paid all the outgoings (rates, water, insurance, etc). My mum even went to the trouble of adding her …
Question Hi My defacto partner and I are currently renting part of our house as airbnb, however the home loan is only in my name. We want to move and rent the whole house. We thought we should set up a business partnership. Are we allowed to use the home loan that is in my …
Question House AThis is the family home in NSW we are both currently living in and I am shortly to move out of in February. My wife will live in this until separation settlement, and may continue to do so depending on whether we can make that work for her financially in the settlement. My …
Question Hi Julia, I purchased an investment property with settlement date in January 2022. The loan was $472,000 for all purchase related and initial repair costs. In actual fact this was around $3,000 short in the first place, so I used extra money redrawn from my PPOR loan to cover that. Subsequent to that, I …
Question My wife and I are about to go through an (as yet) amicable separation. We have owned our current family home since late 2018; it is 99% in my name, 1% in my wife’s – done this way originally in case we ever chose to rent it out. We never have rented it or …
Question Hi Julia Given you wrote about this Bill in August, I assume you’ll be addressing it more in further detail, however we have a specific question about our situation. We own a small business (a service business trading as a Pty Ltd company) and we are wanting to purchase an electric vehicle. The car …
Question Hi, My question is in two parts, but relates to company car purchase, so have deemed this to be a simple question. I started a private company (GST registered, sole director, transferred from Sole Trader structure) in 2021 and am also continuing the sole trader business (has ABN) that was started in 2019. I …
Question I have a client who signed a contract to sell his farm (going concern) on the 16th of June 2022. The settlement didn’t take place until the 29th of July 2022. In the contract, the plant & equipment were allotted a ‘nominated’ price of $100k. In the contract, the livestock were allotted a price …
Question In 2014 February, me and my Mom bought a property for $579 000 (tenants in common 50% each) to live in (principal place of residence). I had moved to work overseas in 2009, and is still currently working overseas; the reason we bought in joint names is because My mom could not get bank …
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