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Trusts and Stamp Duty - Land Tax Surcharges for foreign persons

You may be aware that there have been recent tax changes in relation to ‘foreign persons’ and ownership of residential property. Specifically, these changes can impact discretionary or family trusts with a single foreign beneficiary that hold or acquire residential property. The surcharges operate for stamp duty and land tax purposes in most states in Australia and can increase the cost of the transaction by between 3- 8% (stamp duty surcharges) or up to 2% per annum (land ta

What tax deductions are available for investment properties?

Investment properties are a popular long-term wealth strategy for Australians, delivering both a regular income stream and an asset that should appreciate in value over time. One-fifth of people in the country had at least one investment property in 2016 – up from 17 per cent the previous year, according to ING DIRECT figures. But if you’re looking to join the ranks of Australia’s growing army of investment property owners, you’ll need to educate yourself on what deductions a

Tips for first-time property buyers in 2018

The Australian housing market hasn’t always been a friendly place for first time buyers. With property prices looking as if they may soften for the first time in over half a decade, 2018 could be the year to get a foot on the elusive property ladder. So, what can you do to secure your place on the property ladder this year? Get into the market ASAP You can spend years plotting your triumphant break into the buying scene at just the right moment, but nothing can beat just dig

Removal of the capital gains tax exemption for foreign tax residents on sale of main residence

On February 8, 2018 the Australian Government introduced a Bill to remove the capital gains tax (CGT) exemption for the sale of a main residence by a foreign resident. A foreign resident for tax purposes includes Australian citizens, permanent residents and New Zealand citizens who are not a tax resident of Australia. As part of the 2017-18 Federal Budget, the Australian Government announced on May 9, 2017 a range of reforms to reduce pressure on housing affordability. The ma

NSW Land Tax & Trusts

Often not understood by investors, the trusts laws vary by state with in Australia. This includes how land tax is assessed and applied. For example, a discretionary trust in NSW cannot access the land tax free threshold, but can in Queensland. We take a look at some of trust definitions in NSW and how they are treated by the NSW OSR for land tax purposes. For land tax purposes, trusts can be divided into six categories: special trusts fixed trusts superannuation trusts trusts

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Trusts and Stamp Duty - Land Tax Surcharges for foreign persons

What tax deductions are available for investment properties?

Tips for first-time property buyers in 2018

Removal of the capital gains tax exemption for foreign tax residents on sale of main residence

NSW Land Tax & Trusts