,

Buying a new home before selling the old one: The ins and outs

Sometimes an individual or couple decide to buy a new home before selling their existing one. In such cases, a concession exists that allows for both houses to be treated as a main residence for up to six months – but only if certain conditions…
Property

Buying a House

23rd August 2021 Six steps to turn your first-home dream into reality Buying a house is an exciting time. These steps will smooth your way through the house buying process. 1. Save for a house deposit The first step is to get your…

Capital works deductions for rental property

Rental property investors can claim capital works deductions for construction costs for a rental property, however there are limits imposed in relation to the dates such works were completed. The deductions are only available on residential…
,

When it comes to real estate and CGT, timing is important

When you sell or otherwise dispose of real estate, the time of the event (when you make a capital gain or loss) is usually when one of the following occurs: You enter into the contract (the date on the contract), not when you settle. The…
,

Why ‘low-interest’ is causing high interest in property

Buying an investment property is a well-worn road to riches for many Australians. Despite a few ups and downs residential housing has delivered strong returns over many years, and experts predict property prices will continue to rise in the…
,

Your guide to buying an investment property in 2021

Almost one in two Aussies say that property is their first choice when it comes to investing but many feel overwhelmed by the number of steps required to purchase a property. Once you have saved up your deposit, here is a step-by-step guide…
,

Claiming interest expenses for rental properties

Interest is a common deduction claimed by taxpayers. Generally, interest is seen as being inherently deductible where it is incurred in gaining or producing assessable income. An established factor from court cases is that the deductibility…
,

COVID-19 and SMSF rental relief

The Federal Government announced a six-month moratorium on evictions of commercial and residential tenants during the COVID-19 health pandemic. This moratorium (and its accompanying code of conduct leasing principles) will inevitably affect…

Rental property: Tax approach adjusts for COVID-19

The COVID-19 pandemic has placed property owners, and tenants in many cases, in unfamiliar territory. Many tenants have been paying reduced rent or ceased paying because their income has been adversely affected. While rental income may be…