How to avoid penalties on late tax returns?
Unless you are below the tax-free threshold or are in a tax-exempt category, lodging a tax return in Australia is compulsory; even if you have a loss or may not have any tax to pay.
Unless you are below the tax-free threshold or are in a tax-exempt category, lodging a tax return in Australia is compulsory; even if you have a loss or may not have any tax to pay.
Property development is an attractive way for many Australians to create wealth. However, a common mistake is to overlook, underestimate, or be unaware of the tax traps involved in any property development project.
An optimal property ownership structure can save you thousands in tax. What is more, it can protect your personal assets in the event of bankruptcy. The truth though is that there’s no one-size-fits-all solution. Why?