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Stamp Duty in NSW: What you need to know

Whether you’re purchasing a home for the first time or planning to relocate to New South Wales, understanding all the costs attached to buying a new property up-front is the best place to start. Like every state in Australia, NSW stamp duty is a `specific fee or cost you will pay when purchasing a home.…

Tax depreciation schedules, All You Need to know for EOFY

Tax depreciation schedules are one of the most significant yet under-utilised tools available for property investors to maximise their returns. However, a large proportion of people still fail to realise the benefits of ordering a tax depreciation schedule. It is now estimated that through depreciation landlords could claim back between ten and forty per cent…

What could NSW stamp duty reform mean?

Last month, the New South Wales government proposed changes to stamp duty in their budget outlines. The aim is an economic boost for the state, with home buyers being given the choice of paying upfront for stamp duty or opting to pay a fixed amount. This will be a lower property tax paid annually that…

The Housing Construction Economic Kickstart Plan proposal

Virtually every industry in the country has taken a massive economic hit as a result of the Covid-19 pandemic. From businesses being unable to operate through to demand disappearing overnight, many organisations are facing a parlous future. Both property developers and property owners have been adversely affected by the pandemic: with construction slow or non-existent,…

New ATO Tax Ruling 2019/5

At the beginning of each financial year, the Australian Taxation Office (ATO) announces a Tax Ruling. This outlines any changes made to the effective lives of assets – typically plant, equipment, and commercial property assets. This year, however, in tax ruling (TR) 2019/5, the ATO detailed several changes to residential property assets. These changes are…