Chloe talks about crunching down before the May deadlines, what to watch out for and steps you should be taking for EOFY preparation.
When you buy an investment property, it’s assumed that all costs associated with the property will be a tax deduction, unfortunately, this is not always true.
An expense is deductible when it is incurred and to the extent that it relates to producing assessable income. Some of these expenses may include:
- Advertising for tenants
- Utilities &
Data feeds are something that you have most likely heard us talk about for quite some time. These third party authorities have a huge impact on how we look after you and your fund and the level of accuracy and efficiency we can deliver.
Probably the most important misconception is that when you sign a third party authority form,
Whilst there haven’t been any major tax reforms within Super for quite some time, the landscape has definitely shifted in terms of compliance and issues surrounding advice.
So what changes are coming into effect this year?
- Abolishment of the Accountants Exemption
This is probably one of the biggest changes to disrupt the financial services industry.