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Depreciation can make a big difference to the cash flow of your investment property. What is depreciation? It is simply a recognition of the decline in value of an asset over time. In the real world things get older, they becomes worn out, and their value decreases. Depreciation is how that process is recorded in …

How to reduce your tax before June 30 Here are some simple strategies to gain a financial advantage before June 30. I’ve summarised these in a YouTube video. Make a personal super contribution Open a first home saver account Work out the tax implications of health insurance Pre-pay your tax deductible expenses Adjust your salary …

You are probably aware that it is compulsory to lodge an Australian tax return every year. But maybe you have been a bit “naughty” and you have some overdue tax returns. You might have been too busy, the tax return form might have looked too complicated or there may have been legitimate reasons (like health …

By Jarrod Rogers CPA Updated 24 Aug 2011 to include Tabcorp and Westfield. Each year the ATO releases a list of Capital Gains Tax (CGT) events that effect shareholders of commonly held shares. You can find the list for 2010-11 on their website. Below are some of the common events and a guide to the …

Online Consultations – your accountant is as close as your computer In a busy world you need to find smarter ways of working to get your important jobs done. Many people are time poor and there are jobs that never seem to get to the top of their to-do list. Lodging a tax return is …

To keep up to date with relevant changes in tax please subscribe to our newsletter. Migrants and non residents If you have come to Australia to work, or if you have investments in Australia, you need to understand the tax and financial issues that relate to you. Education Tax Refund If you have a child …

If you have come to Australia to work, or if you have investments in Australia, you need to understand the tax and financial issues that relate to you. Whether you are: working in Australia on a short term assignment with an overseas employer permanently migrating to Australia on a temporary resident visa having a working …

1. Include all the elements of the cost base  A capital gain is the difference between the capital proceeds (sale price) and the cost base (purchase price plus capital costs).  Basically, the higher your cost base, the lower your capital gain.  So make sure you include all the elements of the cost base, including:   …

Key budget changes 2011 By Jarrod Rogers CPA, May 2011 Superannuation Super contributions limits for over 50s The government has confirmed that a higher concessional contributions cap will apply to people over 50. Currently the concessional contributions cap is $25,000, but for people over 50 the limit is $50,000. This allows people over 50 to …

Return to rental properties page Get your tax refund early & boost your cash flow Using a negative gearing strategy will increase the size of your tax refund. But you don’t have to wait until July to get ask for your money back. You can get the tax benefit early by reducing the tax that …