When making payments of interest, dividends, or royalties, it is crucial to understand resident withholding tax (RWT). Understanding Resident Withholding Tax (RWT) on Interest Resident withholding tax on interest applies when a financial institution or business pays interest to a resident taxpayer and that resident taxpayer has not reported their tax file number to the […]
What is Resident Withholding Tax on Interest Paid? Read More »
Land tax is a recurring cost for property investors and owners in Victoria, calculated based on the total taxable value of land holdings. While land tax is unavoidable for many, there are legal strategies to minimise or avoid it. In this guide, we’ll explain how land tax works, who is liable, and strategies to reduce
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When it comes to property investment in Australia, understanding tax implications is crucial to ensuring that capital gains tax, if any, is kept to a minimum. One such key tax rule which you may have heard of is the 6-year rule for capital gains tax (CGT), which can provide significant tax relief to property owners.
What is the 6-Year Rule for Capital Gains Tax? Read More »
When buying, selling, or renting property in Australia, one key consideration for both buyers and sellers is the Goods and Services Tax (GST). While GST is a well-known part of many commercial transactions, its treatment when it comes to residential property can often cause confusion. While it is always best to consult a property accountant
Is GST Payable on Residential Property in Australia? Read More »
Investing in property has long been a cornerstone of wealth-building in Australia. With evolving urban landscapes and changing lifestyle preferences, townhouses have emerged as a compelling choice for many investors. But are they a smart investment in the current Australian market? From the eyes of a property accountant, let’s dive into the pros, cons, and
Are Townhouses a Smart Investment in Australia? Read More »
If you’re buying property in Victoria, Australia, understanding stamp duty is essential. Stamp duty is a tax levied by the state government on property transactions (as well on the sale of motor vehicles). This guide will help you understand the basics of stamp duty on property transactions, how it’s calculated, and whether you’re eligible for
How Much Is Stamp Duty in Victoria? Read More »
Rentvesting is a strategy that allows Australians to live where they like and have a rental property in a place that they would prefer not to live in. For example, if you work in the Melbourne CBD and prefer the lifestyle there, you can rent in the city while buying an investment property in a
What Is Rentvesting and Is It Right for You? Read More »
Many are unaware that ATO Withholding Clearance Certificate is issued by the Australian Taxation Office (ATO). The WCC attests to the fact that, for the purposes of taxation, a property seller is an Australian resident. 15% of the purchase price will need to be withheld by the buyer at settlement if the seller is unable
Guidelines to ATO Withholding Clearance Certificates for Properties Read More »
