Are you renting your property out via Airbnb? Airbnb and the sharing economy Airbnb is an example of the “sharing economy” — connecting buyers (users) and sellers (providers) through a facilitator that usually operates an app or a website. Airbnb acts as this facilitator by allowing individuals, referred to as “hosts”, to rent out a Read More…
Foreign Residents CGT Main Residence Exemption Removed
CGT exemption on principal residence changes for foreign residents Australia’s foreign resident capital gains tax (CGT) rules will be extended to deny foreign and temporary tax residents access to the CGT main residence exemption. This change applies from the date of announcement, 9 May 2017. Properties that were held prior to this date will be exempted until Read More…
Guide For Capital Gains Tax Relief And Your SMSF
What is transitional CGT relief? Transitional CGT relief is temporary relief available to all complying super funds, not just SMSFs, for certain Capital Gains Tax assets that would otherwise give rise to a taxable capital gain through the necessary efforts to comply with the new transfer balance cap and new conditions to be applied to Read More…
CGT Implications Of Subdividing The Family Property
Capital Gains Tax implications of subdividing and building on the family property With the current state of the property market in Australia, a not-uncommon situation can arise where a residential property owner wants to demolish and subdivide the block containing the family home and build residential units. If you have the available land, this is Read More…
Capital Gains Tax Concessions For Small Business
How CGT concessions can affect your business … The small business capital gains tax concessions are extremely valuable. If you are a small business owner who needs to dispose of assets that have risen in value, then accessing these concessions can greatly reducing your consequent tax liability, even to zero. How to access your CGT Read More…
