Tax time is here! Are you paying too much tax ?
Do you own or have you bought an investment property in the past financial year?
Or… have you recently refurbished, altered or extended your investment property in the past financial year?
Or… do you own an investment property but have never claimed depreciation in the past?
Or… own any property including commercial, retail, industrial, residential, pubs, clubs, sporting – we are experts in them all.
If your answer is yes to any of these questions then you may very well be paying too much tax on your income if you don’t claim your depreciation deductions.
Property tax allowances (commonly known as depreciation) provide an opportunity for owners of income producing property to reduce their taxable income, thus reducing the tax payable. Continue reading
The event was well supported with over 700 people and 40 yachts participating with approximately $250,000 raised for homeless young people.
We boarded Eve, a Swan 65 ketch, which won last years Regatta.at King Street Wharf. Whilst we did practice drills before the race – all under the professional guidance of our skipper and crew, we enjoyed a luncheon with some drinks.
Racing commenced at 1:40pm for class 3. Unfortunately, a slightly ambitious start saw Eve over the line early, necessitating a return around the end of the line and subsequently starting last on the water. They do say that if you are not over early now and again you aren’t trying hard enough! The course for class 3 was a start off Point Piper, up the harbour to Lady Bay, round Shark and Clark Islands, back to Nielsen Park then to the finish in Rushcutters Bay. The reaching conditions favoured Eve’s long waterline length compared to the rest of her class so with much concentration on trimming and maintaining clear air we managed to work our way back up to second on the water by the finish, resulting in a fifth on handicap. Continue reading →