IGnite Accounting

& Financial Services

  • Home

  • Services

    • About
    • Individuals
    • Business
    • Bookkeeping
    • Finance Services
    • Foreign Currency Exchange
    • Wealth Advice
    • International Tax
  • Latest Updates

  • Resources

  • Contact

    • Book Online
  • More...

    Use tab to navigate through the menu items.

    Recent Posts

    Directors ID - Have you Registered?

    Directors ID - Have you Registered?

    NSW Business Support 2022

    NSW Business Support 2022

    Lockdown Support for Individuals

    Lockdown Support for Individuals

    Archive

    • April 2022
    • January 2022
    • July 2021
    • January 2021
    • May 2019
    • April 2019
    • March 2019
    • July 2018
    • May 2018
    • April 2018
    • March 2018
    • January 2018
    • December 2017
    • November 2017
    • July 2017
    • May 2017
    • April 2017
    • March 2017

    Tags

    • Calculating headcount and payroll
    • common property
    • common property depreciation
    • common property depreciation deductions
    • JobMaker
    • Jobmaker Hiring Credit
    • JobMaker Hiring Credit scheme
    • tax depreciation
    What’s changing on 1 July 2018?

    What’s changing on 1 July 2018?

    Individuals Personal tax bracket changes - The top threshold of the 32.5% personal income tax bracket will increase from $87,000 to $90,000*. Introduction of the Low and Middle Income Tax Offset* providing a tax offset for those with taxable income of up to $125,333. GST on property developments and residential subdivisions – The way GST is collected on sales of newly constructed residential properties or new subdivisions will change from 1 July. Purchasers will be required t
    Trusts and Stamp Duty - Land Tax Surcharges for foreign persons

    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?

    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
    NSW Land Tax & Trusts

    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
    NSW Land Tax Surcharge - Non Tax Residents !

    NSW Land Tax Surcharge - Non Tax Residents !

    Although the Non Tax Resident (NTR) surcharge has been in place for little over a year now, we still get asked the question "How does this relate to me ?". So worthy of a blog i think ! The essence of the tax is that Foreign persons who own residential land in NSW must pay a surcharge of 2% from the 2018 land tax year on wards. The surcharge applies on the taxable value of all residential land owned as at 31 December each year, including their principal place of residence.
    1
    2345

    Contact Details

    IGnite Accountants & Financial Services
    Level 3, Suite 22

    22 Darley Road
    Manly NSW 2095

    ​

    Phone: (02) 8005 0380

    Join our mailing list

    Never miss an update

    TA 25191303

    ©2016 by IGnite Accountants & Financial Services.