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Email: office@aubreypaton.com.au

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Hot Issues
Touch Payroll (STP)
‘Calm before the storm’: Government proposes 12-month SG amnesty
Government intensifies cash payments crackdown - Kelly O'Dwyer
Passive investment companies tax rate still 30%
Cryptocurrency audits tipped to increase this EOFY
Australia by numbers – Update
$2.4m lost to tax scams, ACCC reports
No GST on digital currency
Federal Budget 2018 - Overview
Your Budget
4 components of our 2018 Federal Budget
Resources to help understand and implement Single Touch Payroll (STP)
New rules capture SMSFs trading big with cryptocurrency
New passive income test for lower corporate tax rate
Tools to help you manage your financial position are available on our site.
‘A simple mistake can attract our attention’: ATO reminder about FBT slips-ups
Australia by numbers – Update
Beware residency rules if moving overseas
Meaningful tax reform in high demand
Working holidaymakers and tax returns
Single Touch Payroll – 1 April 2018 Action
Property investors on notice after ATO spots false claims
ATO issues update on cryptocurrency compliance traps
Australia's vital statistics
Accountants spy elder abuse spike as mortgage stress sets in
Tax office releases fresh guidance on SMSFs
Labor's tax plans could favour the rich, analysis shows
FBT Reminder – Odometer Reading
Our website is really our digital office.
‘Substantiation will be a key focus’: ATO drums in tax time 2018 hit list
Super changes: $1.6 million transfer balance cap and death benefit pensions
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Articles
Personal Credit Ratings
Retention of Title
Holiday House or Rental Property?
GST and Credit Card Surcharge Fees
Wanting to Sell (Buy) a Business?
Careful of what you Promise
A very good Budgeting Tool is available on our site.
Superannuation Guarantee Charge
Main Residence Exemptions – Not Land
Share Transaction Data Matching Program
Holiday House or Rental Property?
Holiday homes have the flexibility of being able to be used when you want, they can have tax advantages and potential to earn an income as a rental property.

 

A few thoughts:-

The first step is to weigh up whether the property is a good investment in its own right.

It might be wise to look in the middle of winter when you haven’t got that holiday euphoria.

If you want to keep it clean and know that all the interest you pay on the loan or all the depreciation or all the rates is tax deductible, then you need to be a normal tenant and pay rent when you use it.

Most insurance policies exclude cover when the home is unoccupied for a period of time.  This period might be as short as 30 days.

If someone was in your property and the steps collapsed and they fell down, you could be sued.

Deciding whether to let an agent look after your holiday home or maintain it yourself, is another important decision.

 

 

 



12th-March-2010