Most real estate located in Australia is subject to capital gains tax (CGT). This includes vacant land, business premises, rental properties, holiday houses and hobby farms. Your ‘main residence’ is
Some time ago, I heard the woeful tale of an investor who couldn’t claim a GST refund for his commercial investment property. Sadly, he had not sought his conveyancer’s and
What is Double Taxation? Double taxation arises when two or more countries impose taxes on the same taxpayer in respect of the same taxable income. This results in the same
The Australian Taxation Office (ATO) and The Inland Revenue Authority of Singapore (IRAS) entered into a Competent Authority Agreement (“Agreement”) on the automatic exchange of financial account information based on
What is Double Taxation? Double taxation arises when two or more countries impose taxes on the same taxpayer in respect of the same taxable income. This results in the same
What is a Private Ruling? A private ruling is the Tax Commissioner’s opinion on how tax laws apply to a specific situation, scheme or transaction. Private rulings are different from
In order to have clarity on your tax responsibilities in Australia, the first step is to determine whether you are considered a resident or non-resident for Australian tax purposes. This
