There are numerous tax rules and regulations associated with real estate that you need to comply with and, if you get it wrong, the Tax Office could impose stiff penalties. Fortunately, help is at hand.
In plain English, Property & Taxation explains just what your tax obligations are. Inside you'll learn:
how property speculators and property investors are taxed which expenses are tax deductible how to calculate a capital gain and capital loss about the tax issues associated with owning your main residence and overseas property investments how negative gearing works about owning property in different legal structures.
Packed with tax tips, tax traps to avoid and practical case studies, this comprehensive guide will give you the know-how to legally reduce your tax liability — and build your wealth.
1. The Australian tax systemand property: removing the mystique
2. Property speculator or property investor: You need to know
3.Taxing your property portfolio: The rules you need to follow
4: Taxing your capital gains: sharing your good fortune
5. This is where I reside and it's all tax free:
6. Investing in an overseas property
7. Bank rolling your property purchases
8. Six legal ways of owning property
9. Keeping proper records and tax audits