Archive for category: Property
News
PAYG Income Tax Withholding Variation
Submitted by: Physio Accountant - 31-May-2016
Do you own a negatively geared investment property?Your employer is required to withhold tax during the year to cover your estimated tax liability from your employment income. However, those who have a negatively geared property investment will have less taxable income than their employer estimated, due to their rental property loss offsetting their employment income. In these cases, the employee does their tax and gets a tax refund for the overpaid tax at the end of the year.
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( Posted in: Property
)
ATO property data match could affect honest owners
Submitted by: Physio Accountant - 6-Apr-2016
Late last year the Australian Taxation Office (ATO) announced its intention to acquire details of property transactions dating back to September 20, 1985. Yep, 1985! The scope and amount of information they are requesting is gigantic!
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( Posted in: Property
)