Selling my commercial business property!

By |2024-02-12T16:09:36+11:0010/01/2024|Categories: Blog, Exit Planning, Services accounting for small business, SMSF|Tags: , , |

How do I sell my commercial business property? When selling your business, your business operations and HQ are an essential and strategic part of your business. Most businesses operate from a premise of some sort, so when it comes to exit planning, your decisions on what to do with your business premises is equally important as one of the essential items that require serious discussion and planning. When it comes to planning, the first thing to do is to review how and what you use your office, factory shop, etc., as part of the business on a day-to-day basis. For [...] READ MORE

Renovating and flipping your home for profit . The potential Tax Implications

By |2024-02-19T15:25:13+11:0011/03/2023|Categories: Blog|Tags: , |

Renovating and flipping your home can be an exciting and rewarding experience as a homeowner. However, before you embark on a renovation project to sell your home for profit, it's essential to understand the tax implications involved. After watching TV shows like the Block, are you inspired to become a property flipper?In this article, I will explore the basics of renovating and flipping your home, the ATO tax implications, and offer tips to help you maximize your profit while avoiding common mistakes. The Basics: What is Renovation and Flipping your home? Renovation is improving or updating your home, either for [...] READ MORE

When is a home exempt from CGT

By |2024-02-20T16:12:36+11:0020/04/2022|Categories: Blog, Taxation|Tags: , , |

Your home can be exempt from CGT providing it is your castle. You need to do a few things to make sure it meets the ATO The ATO considers several factors when determining if a dwelling is considered a client’s main residence. Various tests in relation to different factors to determine to see if you meet this test as your home. This may vary depending on the circumstances and it may be several factors. What makes a home regarded as your home and makes your home exempt from CGT? The main residence test for a dwelling is based on facts [...] READ MORE

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