by Camden Professionals | Sep 19, 2024 | Depreciation, Property Investment Tips, Property Tax, Tax Deductions
Creating wealth through buying an investment property is a well established practice in Australia. In fact, there are approximately 9 million residential dwellings in this country and almost 25% of them are rented from private landlords. According to the Australian...
by Camden Professionals | Aug 26, 2024 | FIFO, Perth Property Investment, Property Investment, Property Investment Tips, Tax Deductions
In Western Australia, the fly-in fly-out (FIFO) workforce faces unique financial challenges and opportunities. One notable advantage for FIFO workers is the potential tax benefits from property investment. These benefits can provide substantial financial relief and...
by Camden Professionals | Apr 2, 2024 | ATO, Property Outlook, Tax & Accounting, Tax Deductions
If you’ve invested in vacant land with a view to building an investment property on it, the tax deductions you can claim have changed. Effective July 1, 2019, expenses related to holding vacant land are no longer tax-deductible, regardless of ownership prior to that...
by Camden Professionals | Feb 7, 2024 | Income Tax Returns, Small Business, Small Business Tips, Tax Deductions
If you own a business in Australia, the good news is that many costs related to advertising and promoting your business can be deducted from your taxes. This means you can reduce the amount of tax you have to pay by claiming these expenses on your annual tax return....
by Camden Professionals | Feb 7, 2024 | ATO, Income Tax Returns, Tax & Accounting, Tax Deductions
A recent case presented before the Administrative Appeals Tribunal (AAT) underscores the significance of ensuring that the evidence aligns with the tax position asserted. This specific case revolves around heritage farmland, initially acquired for $1.6 million and...
by Camden Professionals | Nov 6, 2023 | Airbnb, Income Tax Returns, Tax & Accounting, Tax Deductions
Airbnb is a hero of the sharing economy. By matching property owners with potential guests, it’s an alternative accommodation renaissance. As a landlord, you set the price and conditions while guests get a personal touch and insight into the area. With all the...
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