February 2025 Newsletter

By |2025-02-04T19:20:05+11:0004/02/2025|Categories: Blog, News for you, Services accounting for small business, small business, SMSF, Taxation, Trade & construction|Tags: , , , , , , , , , , |

  Our February Newsletter is packed with insights to help you navigate the year ahead, keeping you informed about key tax, financial and superannuation changes that may affect you.   Articles include:   Seven changes impacting your super in 2025 Rental data matching by the ATO Coalition election announcements Super and hardship: a safety net in financial difficulty ATO confirms tax deductibility of financial advice fees   Click here to download our February Newsletter     Contact us on 03 9597 9966 if you have any questions relating to matters raised in any of our Client Newsletters.    

Initial repair for my rental property- can i claim it?

By |2024-01-15T15:52:14+11:0025/03/2022|Categories: Blog, Taxation|Tags: , , |

An Initial repair occurs when you acquire a new rental property with existing known repairs. The old house might need fixing before it can be rented. Initial repairs may include such things as plumbing, painting, new carpet or appliance repairs, to name a few. Initial Repair must be capitalised! Though Initial repair cannot be claimed outright in the first tax year, there is some tax relief. These repairs should be treated as a capital expense. Treating them as a capital expense will add them to the property's cost base. We are often asked what the tax treatment of an initial [...] READ MORE

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