Travel expenses related to inspecting, maintaining or collecting rent for a residential rental property will be disallowed from 1 July 2017. The Government said that this change is designed to address concerns that many taxpayers have been claiming travel deductions without correctly apportioning costs, or have claimed travel costs that were for private travel purposes. […]
The Reserve Bank of Australia has again decided to leave the official cash rate at 2.00%. This approach was predicted by many commentators as the Reserve Bank assesses the impact of the lower Australian dollar, falling fuel prices, a volatile share market and a slowing housing market. The lower Australian dollar and resultant increase in […]
AUSTRALIAN FOREIGN INVESTMENT INFORMATION QUEENSLAND. Foreign investment – disclosure and approval for interests in Australian property Foreign investors need to plan and act now to comply with Australia’s changes to foreign investment rules. Will you be affected by these measures? You will be affected by these measures if you acquired the interest in the Australian […]
On 1 January 2017, the assets test used to determine entitlement to income support benefits, including the age pension, will change. The questions are, will this impact you? And would or should you do anything? Presently, a single homeowner can have assets of $783,500 and a couple can have $1,163,000, before they lose their pension […]
The Board of the Reserve Bank have decided to leave the official interest rate unchanged for the month of October 2015. The official cash rate remains at the historical low of 2%. The next meeting to review interest rates is scheduled for November 3 2015.