Hoping for a juicy tax refund? Ten simple steps can help you get the max from your tax return.
We take a fascinating look at Australia’s spending and saving habits and how they vary across the country. How do you compare in the mix?
What would you do with a refund from your tax return? Putting it towards your mortgage could save you more than you think.
These simple steps can help make tax a treat instead of a tedious task.
Morrison’s budget offered good outcomes for small businesses and middle-income earners, with potential tax savings for both these groups. But it was superannuation reform that dominated the 2016 federal budget.
It’s not just interest on the investment loan that can be claimed on tax. If you buy a major item like a new stove for the property using a credit card, you may be able to claim the associated interest charge.
Can we put the additional funds from the refinance into the offset or redraw accounts of our existing investment properties until we need it, or will this create tax issues when we take it back out?
I am a firm believer in paying off as much of a home’s mortgage as possible, however if you have other debt on a credit card or a personal loan with a far higher interest rate than your home loan, then it might be worth considering paying down those debts first, or managing your bills with a debt consolidation plan.
SMSF has practically become a new buzz word in property, but there’s a whole lot more you need to know before jumping in. Short for Self Managed Super Funds, SMSF works differently to regular property investment.
There is still time to pay property-related expenses that could boost your tax deductions for the current financial year. Think about undertaking, and paying for, any repairs that could be completed before 30 June. Check if your landlord’s insurance could be renewed and the premium paid before the end of the financial year.