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Are you aware of the personal property securities register? What is it? The personal property securities register (more commonly known as the PPSR) is an official government register. It’s effectively a public noticeboard of security interests in personal property (see below) that is managed by the Registrar of Personal Property Securities. Security interests Security interests…

Imagine you’re lucky enough to inherit, say, four post-CGT rental properties from a deceased parent – but what happens when your sibling also inherits a half-share of these? While you both acquire a very valuable 50% interest across four properties, it’s safe to say that in most scenarios, you’d both rather have a 100% interest…

Sometimes an individual or couple decide to buy a new home before selling their existing one. In such cases, a concession exists that allows for both houses to be treated as a main residence for up to six months – but only if certain conditions are met. Section 118-140 of the Income Tax Assessment Act…

Rental property investors can claim capital works deductions for construction costs for a rental property, however there are limits imposed in relation to the dates such works were completed. The deductions are only available on residential properties built after 17 July 1985. Generally, up to 15 September 1987 the rate is 4% a year (over…

Some lenders have started to lift fixed home loan rates in recent weeks, signalling that interest rates in the 1% range may be short lived. Australians can now take advantage of some of the lowest lending rates in history. Fixed rates from as low as 1.79% and variable rates from 2.09% are a welcome relief…

When you sell or otherwise dispose of real estate, the time of the event (when you make a capital gain or loss) is usually when one of the following occurs: You enter into the contract (the date on the contract), not when you settle. The fact that a contract is subject to a condition, such…

2020 in review and what 2021 might have in store ITC has put together some highlights from the ‘Best of the Best 2020’ report compiled by Core Logic, the leading property information, analytics and services provider worldwide, to help our clients identify opportunities and mitigate risk in the NSW market in the new COVID era.…

Interest is a common deduction claimed by taxpayers. Generally, interest is seen as being inherently deductible where it is incurred in gaining or producing assessable income. An established factor from court cases is that the deductibility of interest depends on the purpose of and use of borrowing the principal. Interest expenses will not be deductible…

New residential property is a popular investment for many, and can be especially so for self-managed superannuation funds, however the ATO is concerned that not every investor in residential property is fully aware that it is an option that may bring with it unexpected GST obligations. The ATO says that from 1 July 2018, most…

The COVID-19 pandemic has placed property owners, and tenants in many cases, in unfamiliar territory. Many tenants have been paying reduced rent or ceased paying because their income has been adversely affected. While rental income may be reduced, owners will continue to incur normal expenses on their rental property and will still be able to…