All news by: John La Rocca

Claiming depreciation on investment property

Rental property investors have access to a range of tax strategies. One such strategy, which is often underutilised, is claiming depreciation as a tax deduction.

Property expenses, such as depreciation and capital works expenditure, can be deducted over a number years, adding to a significant return for property investors come tax time.
 

Transitional Provisions for SMSFs

The Government will apply transitional arrangements to SMSFs affected by the retrospective aspects of the Federal Budget’s proposal to limit non-concessional contributions. In the 2016-17 Federal Budget, the introduction of a lifetime cap of $500,000 on non-concessional superannuation contributions, including contributions since 2007, was announced. 

ATO imposes stricter guidelines for SMSF borrowing

Self-managed super funds (SMSF) have until 31 January 2017 to conform to the ATO’s new rules on related party loans.
 
 A guidance paper released by the Tax Office stated that related-party loans e.g. family trusts or private companies to SMSFs now must be at interest rates of 7.75 per cent for shares and 5.75 per cent for property.