In the world of tax, good intentions only go so far. A recent case involving subdivided farmland before the Administrative Appeals Tribunal (AAT) reinforces that evidence must support the tax position you are taking.
The case involves…
https://www.optimisedaccounting.com.au/wp-content/uploads/2024/02/ThumbEvidenceATO.webp11931206adminhttps://www.optimisedaccounting.com.au/wp-content/uploads/2017/08/OA-website-logo.pngadmin2024-02-12 09:53:202024-02-12 09:53:20Guilty as Charged: when your evidence doesn’t match what you tell the ATO
A decision by the Administrative Appeals Tribunal has the tax world in a flurry after the Tribunal found in favour of a taxpayer who sold the apartment she lived in for a loss, then claimed the $265,935 loss in her tax return as a deduction.
https://www.optimisedaccounting.com.au/wp-content/uploads/2023/12/ThumbHomeLossClaim.webp11931206adminhttps://www.optimisedaccounting.com.au/wp-content/uploads/2017/08/OA-website-logo.pngadmin2023-12-12 10:56:152023-12-12 10:56:15Taxpayer gets away with claiming a loss on her home
The Queensland Government has backed away from an amendment that would have seen the land tax rate for investment property in Queensland assessed on the value of the investor’s Australia wide land holdings from 1 July 2023, not just the…
https://www.optimisedaccounting.com.au/wp-content/uploads/2022/10/qld-square.png515515adminhttps://www.optimisedaccounting.com.au/wp-content/uploads/2017/08/OA-website-logo.pngadmin2022-10-13 14:04:002023-06-05 09:28:31Queensland backs down on Australia wide land tax
When you sell an investment property, you may make either a capital gain or a capital loss.
A capital gain or loss is the difference between what it cost you to obtain and improve the property (the cost base) and the amount you receive when…
https://www.optimisedaccounting.com.au/wp-content/uploads/2022/03/sale.png612800adminhttps://www.optimisedaccounting.com.au/wp-content/uploads/2017/08/OA-website-logo.pngadmin2022-03-22 11:41:292023-06-06 09:10:38Selling an investment property?
There are many people who believe that when it comes to investing, nothing beats real estate.
This may be true, but you still have to be smart when making your real estate investment decisions. Although investment properties can be a…
https://www.optimisedaccounting.com.au/wp-content/uploads/2022/03/buying-first-rental-property.png601800adminhttps://www.optimisedaccounting.com.au/wp-content/uploads/2017/08/OA-website-logo.pngadmin2022-03-22 10:32:472023-06-06 09:10:46Tips for buying your first investment property
With a property market recovery underway, most notably in Sydney and Melbourne, Australian investors are once again pursuing their love affair with property investing.
For many investors, a popular way to invest directly in residential…
https://www.optimisedaccounting.com.au/wp-content/uploads/2020/02/SMSF-property-invest.png728800adminhttps://www.optimisedaccounting.com.au/wp-content/uploads/2017/08/OA-website-logo.pngadmin2020-02-11 13:03:572022-03-22 14:49:56The ins and outs of SMSF property investing
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