What is capital gains tax? Capital gains tax (CGT) is the tax you pay on profits you make from the sale of a capital asset such as real estate or shares. A capital gain is when you sell a capital asset for more than you originally paid for it. You are required to pay tax on […]
Rental Income
Tax and Your Budget: Managing Debts | Tax Saving Tips | Budgeting and Saving | Personal Finances | Rental Income
Property investors: Is your investment property tax smart?
With the ATO cracking down on investment property expense claims, making sure you’re ‘tax smart’ and in control of your finances is more important than ever. How do you keep your investment property expenses, taxes and finances in order? And how do you keep the ATO out of your hair? It all starts with good […]
Getting Married and Taxes: What you need to know for your next tax return
Marriage is an exciting and joyful time, but when it comes tax and marriage, it’s also a source of confusion amongst taxpayers in Australia. At Etax, prospective newlyweds often ask us about the tax implications of getting married. Often, they want to know whether a joint tax return is needed when their relationship status changes […]
The First Home Super Saver Scheme (FHSSS): your guide to buying your first home sooner
If you’re someone who’s been saving for a first home deposit, then there’s one scheme you should know about. It’s called the First Home Super Saver Scheme (FHSSS). The point of the scheme is to help people of all ages get into their first homes sooner. It was introduced by the Australian Government in the […]
Live-in landlord Tax Deductions: What you should know…
Live-in landlords are common these days, as more and more people choose to lease out rooms in a house they own and live in. It can help pay the mortgage, cover running expenses and fill up space that’s otherwise unused. If you lease out part of your home, you’ll receive rent. This is usually treated as “assessable […]
Holiday Rental Tax Deductions: The Basics
Do you own a holiday rental property? You could be eligible for valuable holiday rental tax deductions. Holiday rental properties are a common type of investment property in Australia. Holiday rentals are often managed by an agent or real estate company, for a fee. Although the operating costs can be higher than other rentals, the […]
Rental Property Tax Deductions – made easy!
Rental property tax deductions can be confusing so we thought we would expel a few myths and clarify a few essentials when it comes to claiming your property expenses. Often, a rental property is expensive to maintain, especially if you have gaps between tenants. However, provided you purchased a solid property in a good or progressive suburb, it generally […]
Airbnb Tax Information: Tax tips for Airbnb hosts
How does Airbnb affect your tax return? Airbnb offers a great opportunity to rent out that spare room without the long term commitment. Or, it’s a handy way to lease a holiday home that would be quiet for much of the year. Both of these things are great – but some Airbnb hosts may not […]
27 Valuable Rental Property Tax Deductions
By including rental property expenses on your tax return you access an incredible range of possible tax deductions that boost your tax refund and leave more rental income in your pocket. It’s important to stay on top of your rental property tax deductions and claim them correctly to maximise your tax refund (without getting into […]
