Bricks and mortar

Article Abstract:

The tax deductions that are applicable for owners of rental property who have commenced construction or made extensions and alterations after 17th July 1985 are described, which will help the owners in understanding the extent of the tax deduction, prepare them with the necessary documents and calculate the deductions. The Division 43, which is applicable to the owner of a rental property, is difficult to understand and apply in practice.

Public Finance Activities, Tax Deductions & Exemptions, Other Activities Related to Real Estate, REAL ESTATE, Real Estate Services, Real estate industry, Tax deductions

Tax and the home office

Article Abstract:

Article discusses the deductiblity of home office expenses in Australia. Accordingly, home office expenses need to come within section 8-1 of the "Income Tax Assessment Act 1997" in order to be deductible.

Expense deductions, Home offices

Tax reform retrospective: 2003

Article Abstract:

The new legislation taking effect from July 2003 was introduced to tax foreign currency gains and losses. The ICAA tax team reviews the predictions on the tax developments for the year 2004.