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Can my SMSF invest in property development?

Australians love property. The lure of a 15% preferential tax rate on income during the accumulation phase, and potentially no tax during retirement, is enticing for SMSF trustees. It encourages them to pursue the dream of large returns…

Guilty as Charged: when your evidence doesn’t match what you tell the ATO

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…
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Taxpayer gets away with claiming a loss on her home

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. In…

Small land subdivision makes for big tax costs

You’ve got a block of land that’s perfect for a subdivision. The details have all been worked out with Council, the builders, and the bank. But, one important aspect has been left out; the tax implications. Many small-scale developers…
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Queensland backs down on Australia wide land tax

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…