Senior Living, Retirement and Aged Care developments increase for Napier & Blakeley
Napier & Blakeley’s Queensland Quantity Surveying Team has been growing and our experience is expanding into all sectors of various industries, as has the projects and scope of services we are providing to our clients.
Senior Living, Retirement and Aged Care developments are increasing in favour, so we thought you might like to hear some of our recent projects in QLD we’ve been involved in recently. Continue reading
ATO is contacting Residential Investors – BEWARE!
The ATO has issued an early warning again this year. As tax time is nearing to an end for EFOY16 (yes that was quick), the ATO is reminding all residential property and holiday home investors to get in order your deductions as they intend to review this sector for discrepancies. Refer to the following link: : https://www.ato.gov.au/Tax-professionals/Newsroom/Your-practice/Deductions-for-rental-property-owners/?tpissue-10-2016
In particular, all your expenditure and capital allowances must be recorded, apportioned correctly and accurately in accordance with the current legislation. If you have made some profit in selling your investment property this financial year, the transaction may have resulted in a capital tax gains (CGT) event, and if not treated properly could result in a larger tax payment due than originally thought. You must also have sufficient evidence your property was income producing thus providing you a trigger to claim any deductions. Refer to the following link for a detailed explanation of what you may require for EOFYS 2016 on your residential property: https://www.ato.gov.au/General/Property/Residential-rental-properties/ Continue reading
