Shorten policy hits tax breaks for negative gearing and ...

Bill Shorten has unveiled tax changes that would tighten negative gearing and the capital gains tax discount, saving A$565 million over the forward estimates and $32.1 billion over a decade.

Under pressure to convincingly fund Labor's spending promises, Shorten said the proposals would help fund health and education as well as assist in balancing the budget, and would "bring fairness back into...

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Website: http://theconversation.com

Related topics : investments free of capital gains tax / capital gains tax income / capital gains tax investment property nsw / australia capital gains tax on investment property / capital gains tax investment property

Property Tax Specialists – Property Tax Specialists

On the journey to accumulate wealth using property as a class of asset investors face a lot of issues and situations.

As property tax specialists, some of the questions we help people resolve include:

Should I sell or hold? Which property should I sell?

Due to high interest rates I am forced to sell some of my investment property portfolio to be able to meet the cash flow pressures. Which...

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Website: https://propertytaxspecialists.com.au

atotaxrates.info/capital-gains-tax/cgt-and-non-residents/

In general, capital gains made by a non-resident are assessable only in relation to taxable Australian property , including real�property and land-rich�Australian companies. A land-rich company has more than 50% of its�asset value in land.

Comparable treatment is available for interests held through a fixed trust.

Non-final withholding tax on taxable Australian property transactions

[update...

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Website: https://atotaxrates.info

Venture Capital Limited Partnerships (VCLP) | business.gov.au

Provides venture capital limited partnerships (VCLPs) with a flow-through tax incentive (exemption from capital gains tax for gains made on eligible investments) for foreign investors to stimulate Australia's venture capital sector by attracting foreign investors.

Who can apply:

At a minimum, you must:

be either a limited partnership or an incorporated limited partnership

be established in...

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Website: https://www.business.gov.au

Related topics : income tax assessment act 1997 capital gains / income tax assessment act 1997 and 1936 / income tax assessment act 1997 australia / income tax assessment act 1997 comlaw / income tax assessment act 1997

Inheritance Tax In Australia - Sean Paul Kelley

Do you pay tax on money left to you in a will in Australia?

We Answered:

In most cases, the answer is NO!

However, there are always exceptions to the rule and it depends on how you define the terms used. There is no inheritance tax , but the assets of the deceased may be subject to other taxes. A person still subject to income tax and other taxes up to the date of death, with the estate being...

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Website: http://www.seanpaulkelley.com

Capital Gains Tax Exemptions - CGT Solutions | Quinns

Exemptions

A capital gain or capital loss you make from any of the following is disregarded:

a car (that is, a motor vehicle designed to carry a load of less than one tonne and fewer than nine passengers) or motor cycle or similar vehicle;

a decoration awarded for valour or brave conduct, unless you paid money or gave any other property for it;

collectables acquired for $500 or less;

a capital...

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Website: http://www.allcapitalgainstaxsolutions.com.au

Related topics : investment property capital gains tax exemptions / trust capital gains tax exemption / capital gains tax exemptions australia / capital gains tax exemption / capital gains tax income

The Australia Institute recommends scrapping capital gains ...

Australia Institute wants the rich to pay capital gains tax on their family homes to help the Federal Budget

TAX exemptions for the homes of the super-rich cost the Budget $46b last year. Is this the answer to Australia's financial woes?

Kara Vickery

News Corp Australia NetworkJanuary 11, 20168:32am

The Australia Insitute of Australia wants the capital gains tax exemption for main residence...

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Website: http://www.news.com.au

Related topics : capital gains tax exemptions australia / capital gains tax home sale exemption / australia capital gains tax on investment property / australia capital gains tax on property / investment property capital gains tax exemptions

Ultimate Australia Investment Property Calculator

Content - which shows what are included in the Ultimate Investment Property Calculator

Investment Property Assumptions - where you can input all the information about your properties

Property Portfolio 30 Years Summary - which shows the brief summary of your property Portfolio

Property One Page Summary - which shows one-page summary of any property or the portfolio

Property Snapshot - which shows...

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Website: https://www.investmentpropertycalculator.com.au

Related topics : capital gains tax investment property calculator / australia capital gains tax on investment property / investment property capital gains tax rate / capital gains tax investment property / investment capital gains tax calculator

ATO Clearance Certificate - 2017 Changes Now Required

ATO Clearance Certificate - 2017 Changes Now Required

ATO Clearance Certificate - 2017 Changes Now Required

6 November 2017

|By Kent Kwok

Recent law changes from 1 July 2017 in relation to the ATO clearance certificate will now affect over half of all real estate sales within Australia. Although the new laws target foreign investors, the burden falls on Australian residents to prove themselves in...

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Website: https://whichrealestateagent.com.au

Capital Gains Tax (CGT) | Exfin - The Australian ...

Australian Capital Gains Tax (CGT) - An Introduction and FAQ's

Australia has had a comprehensive capital gains tax (CGT) regime since 20 September 1985. Individuals planning to move to Australia or leave Australia should understand the framework of these rules so they do not to trigger any "avoidable" adverse Australian CGT consequences. Some general information is provided below, but Exfin...

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Website: https://www.exfin.com

Capital gains tax exemption changes expected to ignite ...

Capital gains tax exemption changes expected to ignite expat property fire sale

Share

Expatriates will not be entitled to a 50 per cent discount on capital gains if they sell the family home.

Karl Hilzinger

by Joanna Mather

Expat Sasha�Vasiljkovic�is about to put his property in the Melbourne suburb of Williamstown on the market.

He doesn't�want to sell but an� impending Turnbull...

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Website: http://www.afr.com

Related topics : investment property capital gains tax exemptions / capital gains tax home sale exemption / capital gains tax reliefs and exemptions / capital gains tax exemptions australia / capital gains tax investment property primary residence

Something every Kiwi in Australia needs to know | Beyond ...

I've sometimes thought that perhaps Australia needs to make a few things right with our trans-Tasman cousins.

I'm sorry about the underarm incident. It's embarrassing to think that we'd resort to cheating like that. And sorry that our recent cricketers show such embarrassing sportsmanship.

Also, sorry for all those predictable sheep jokes, and for trying to get you to say "fish and chips".

And,...

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Website: http://www.beyondaccountancy.com.au

Taxation in Australia - Wikipedia

History[ edit ]

When the first Governor, Governor Phillip , arrived in New South Wales in 1788, he had a Royal Instruction that gave him power to impose taxation if the colony needed it. The first taxes in Australia were raised to help pay for the completion of Sydney's first gaol and provide for the orphans of the colony. Import duties were put on spirits, wine and beer and later on luxury...

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Date: 2018-04-03 05:22:57
Website: https://en.wikipedia.org

Positive plan to help housing affordability - Australian ...

Capital gains tax discount

When an individual sells an asset for a profit, they make a capital gain equal to the amount of profit on the asset.� They would then pay tax on that gain at their marginal tax rate.

Individuals, trusts are entitled to a 50% discount on the capital gain amount providing they have held the asset for more than one year.

For example:

Jane sells a property that she's...

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Website: https://www.alp.org.au

What attracts our attention | Australian Taxation Office

What attracts our attention

To help you get things right, you should consider the behaviours, characteristics and tax issues that attract our attention. We've published this information below - it's part of our commitment to transparency in working with privately owned and wealthy groups.

Broadly, the following behaviours and characteristics may attract our attention:

tax or economic performance...

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Website: https://www.ato.gov.au

Capital gains tax in Australia - Wikipedia

Capital gains tax (CGT), in the context of the Australian taxation system , is a tax applied to the capital gain made on the disposal of any asset, with a number of specific exemptions, the most significant one being the family home. Rollover provisions apply to some disposals, one of the most significant of which are transfers to beneficiaries on death, so that the CGT is not a quasi death duty...

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Date: 2018-03-20 07:52:18
Website: https://en.wikipedia.org

ATO Tax Rates 2017 - atotaxrates.info

�19c for each $1 over $18,200

�$37,001 to $80,000

�$3,572 plus 32.5c for each $1 over $37,000

�$80,001�to $180,000

�$17,547 plus 37c for each $1 over $80,000

�$180,001 and over

�$54,547 plus 47c for each $1 over $180,000

Levy on higher income earners

A Federal Budget 2014-15 measure applied a Temporary Budget Repair Levy of 2% to taxable incomes in excess $180,000, to take effect...

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Website: https://atotaxrates.info

How to dodge tax in retirement - NewsComAu

tax

Five legal tax dodges to keep more money in retirees' pockets

YOU shouldn't pay more tax than you legally have to. Here are some strategies to cut your bill.

ANTHONY KEANE

News Corp Australia NetworkFebruary 24, 20151:22pm

Many retirees can save a lot of money but structuring their tax correctly.Source:Supplied

DODGING tax is different to dodgy tax, and retiring Australians have plenty of...

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Website: http://www.news.com.au

Inheritance Tax - Lawyers and Legal Services Australia

Inheritance Tax

Is there inheritance tax in Australia?

Death duties in Australia were abolished in 1979. However, if an asset is acquired as a result of distribution of a will, there may be a capital gains consequence. If you are in inheriting from a person who died after 1985, there are special rules relating to the records that need to be keep in order to protect any possible investments which...

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Website: http://www.legallawyers.com.au

Related topics : inheritance tax capital gains / australia capital gains tax on investment property / australia capital gains tax on property / australia capital gains tax / capital gains tax investment property primary residence

Bitcoin and crypto-currency investment in an SMSF ...

The recent surge in the price of Bitcoin has many investors seriously looking at crypto-currency as a part of their SMSF investment portfolio.

So, can an SMSF invest in bitcoin and crypto currency, and if so, what must trustees and advisers be aware of?

There are a number of key areas that trustees need to consider and address if they are looking if invest their SMSF monies into Bitcoin and other...

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Website: http://www.superfundpartners.com.au

Related topics : ato capital gains tax bitcoin / capital gains tax investment property ato / australia capital gains tax on investment property / capital gains tax investment property / investment funds capital gains tax

Payments That Are Subject to Withholding Tax - IRAS

Nature of Payments That Are Subject to Withholding Tax

The following types of payments attract withholding tax when paid to non-resident companies:

Interest, commission, fee in connection with any loan or indebtedness ;�

Royalty or other payments for the use of or the right to use any movable property;�

Payments for the use of or the right to use scientific, technical, industrial or...

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Website: https://www.iras.gov.sg

Goods and services tax (Australia) - Wikipedia

The legislation was passed on 28 June 1999 as A New Tax System (Goods and Services Tax) Act 1999. It gained assent on 8 July 1999 and came into operation on 1 July 2000.

Legal framework[ edit ]

All Australian businesses whose turnover is above the minimum threshold (currently $75,000 per annum) are required to register for GST. Businesses whose turnover is below the threshold may register if they...

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Date: 2018-04-03 02:10:28
Website: https://en.wikipedia.org

Taxation - Malaysian Investment Development Authority

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The RPGT rates will not burden genuine property owners as they are given exemption and the payment of RPGT is based on net gains as follows:

i.�RPGT exemption on net gains from the disposal of one unit residential property once in a lifetime by an individual who is a citizen or a permanent resident of Malaysia;

ii.�RPGT exemption on gains from disposal of property between parents and...

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Website: http://www.mida.gov.my

Related topics : income tax india act / tax income act / investment property capital gains tax exemptions / sales tax information services / sales tax on services

ATO Tax Rates 2018 - atotaxrates.info

�19c for each $1 over $18,200

�$37,001 to $87,000

�$3,572 plus 32.5c for each $1 over $37,000

�$87,001 to $180,000

�$19,822 plus 37c for each $1 over $87,000

�$180,001 and over

�$54,232 plus 45c for each $1 over $180,000

Temporary Budget Repair Levy ends

Legislation passed in 2014 applied the Temporary Budget Repair Levy of 2% to taxable incomes in excess of $180,000 for a period of...

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Website: https://atotaxrates.info