The Truth about Tax Deductions for Holiday Homes
Holiday homes are a popular investment with many Australians. They can provide a steady and positive cash flow with negative gearing benefits.
Holiday homes are a popular investment with many Australians. They can provide a steady and positive cash flow with negative gearing benefits.
Cryptocurrencies have been available for some years, but they have recently received much attention from the ATO with a significant increase in their prices.
Your family home is usually exempt from capital gains tax due to the principal residence exemption. However, when you sub-divide your family home, it can be a costly mistake to assume that any profit you make from selling the subdivided blocks will also be tax-free.
Have you migrated to Australia from countries like India, South Africa, UK and still own your overseas home? If that’s you or someone you know, then read on as it may save thousands in tax.
Generally, properties rented out on Airbnb get taxed in much the same way as investment properties, i.e., rent received by the owner is assessable as rental income, even though you may rent through Airbnb or Stayz platform.