CLAIMING DEPRECIATION is paramount for commercial property owners and yet research suggests around 80% of owners fail to maximise the deductions available and therefore miss out on thousands of dollars in tax benefits.
Archives for September 2016
ON 25 FEBRUARY 2016, Parliament passed a new foreign resident capital gains tax withholding regime.
The regime applies to contracts entered into on or after 1 July 2016; and is intended to assist the Commissioner of Taxation in the collection of the CGT payable by foreign residents.
Under the regime, a 10% non-final withholding tax will apply to foreign residents on the disposal of relevant taxable Australian property.