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Do You Own a Holiday Home?

The ATO is of the view that holiday home investors may be misinterpreting the rules regarding tax deductions for rental properties and, as a result, may be over-claiming on tax deductions for periods when a property is not being rented out. There are suggestions that the confusion amongst taxpayers as to what constitutes personal use…
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Propel Want To Remind Purchasers Of New Residential Properties To Remit GST

We thought we’d remind you that as of 1 July 2018, purchasers of newly constructed residential properties or new subdivisions will be required to remit the GST directly to the ATO as part of the settlement. Under the current law (where the GST is included in the purchase price and the developer remits the GST to the ATO), some developers have…
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Basic Accountancy Terms

Accounting can be an intimidating and hard-to-understand industry if you’re not involved in it. Like many specialised fields, there are plenty of terms that can confuse those looking to seek financial advice, and this can make it challenging to find the solution best for you. We thought it would be helpful to explain some of common accounting terms,…
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Paul Holly is an Authorised Representative (No. 290152) of Evolve Wealth Management, who are a Corporate Authorised Representative (No. 433223) of GPS Wealth Ltd | AFSL 254 544 | Australian Credit Licence 254 544 | ABN 17 005 482 726 | www.gpswealth.com.au | Privacy Policy | FSG

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