NEW SUPER LAWS AND REAL-TIME REPORTING
As we approach the end of the first quarter of the new super reforms which came into effect on 1 July 2017, our article has an update on the ATO’s mandated near real-time reporting for SMSFs.
Click here to read our full article.
RENTAL PROPERTY DEDUCTIONS YOU CAN’T CLAIM ANYMORE!
As mentioned in the May budget travel deductions can no longer be claimed against rental property rent from 1 July 2017. Deductions for travel to your residential rental property will no longer be available. Therefore costs such as travel costs of attending inspections, maintaining the property or collecting rent, travel to meetings with property agent or strata meetings will be excluded from your claim.
To read further on this article, please click here.
THE SCAMMERS ARE VERY ACTIVE AT THE MOMENT!
We have received emails ourselves, and we have had similar reports from clients, from people pretending to be from ASIC.
We have more on this in our article. Please click here to read on.
WILL RENTING OUT YOUR HOME ON AIRBNB OR STAYZ CAUSE ANY TAX RAMIFICATIONS NOW OR WHEN YOU SELL?
Ever since Airbnb started back in 2008, it has become common for people to put their property on websites like Airbnb and Stayz, to earn a bit of extra income. While you are happy with the flexibility of how you can utilise the modern technology to earn extra money from your property, have you ever wondered what the tax ramifications are of receiving this income?
If you have or are currently thinking of your putting your property onto Airbnb or Stayz, please click here to read our article first.
Kreston Stanley Williamson Team
*Correct as of September 2017
*Disclaimer – this article has been produced by Kreston Stanley Williamson as a service to its clients and associates. The information contained in the article is of general comment only and is not intended to be advice on any particular matter. Before acting on any areas contained in this article, it is imperative you seek specific advice relating to your particular circumstances. Liability limited by a scheme approved under professional standards legislation.
