Phone: (03) 9563 4688

Email: office@aubreypaton.com.au

Address: 17D Chester Street, Oakleigh VIC 3166

Latest Accounting News
Hot Issues
Debate heats up around $10k cash ban bill
There’s still time to move to Single Touch Payroll (STP)
Real Time World Population Growth - Wow!!
ATO audits continue to target Lifestyle assets
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Data can be great stuff! - Australia
GST refunds for returned imported goods
14k employers, $230m in super: Financial Services Minister defends proposed SG amnesty
Bushfires 2019–20 (ATO)
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Single Touch Payroll (STP) – now ensure super is paid on time.
Beware of Australian Taxation Office (ATO) impersonation scams
Australia by the Numbers
‘Visible, valued and owned’: ATO outlines super priorities for new year
Introductory Rates & Interest Free Periods
Our Advent calendar for 2019
Tax Office sounds warning on 8 types of super schemes
Don’t forget sharing economy income
Impress your friends with your knowledge!!
Salary sacrificing and the superannuation guarantee
Why so much super “stuff” this year?
Reverse Mortgage?
How the gig economy could create hidden tax issues for contractors and employers
15,000 tip-offs as ATO black economy hotline rings hot
What happens when interest rates hit the floor?
Director Penalty Notices (DPN)
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Articles
Personal Credit Ratings
Retention of Title
Holiday House or Rental Property?
GST and Credit Card Surcharge Fees
Wanting to Sell (Buy) a Business?
Careful of what you Promise
A very good Budgeting Tool is available on our site.
Superannuation Guarantee Charge
Main Residence Exemptions – Not Land
Share Transaction Data Matching Program
Holiday House or Rental Property?
Holiday homes have the flexibility of being able to be used when you want, they can have tax advantages and potential to earn an income as a rental property.

 

A few thoughts:-

The first step is to weigh up whether the property is a good investment in its own right.

It might be wise to look in the middle of winter when you haven’t got that holiday euphoria.

If you want to keep it clean and know that all the interest you pay on the loan or all the depreciation or all the rates is tax deductible, then you need to be a normal tenant and pay rent when you use it.

Most insurance policies exclude cover when the home is unoccupied for a period of time.  This period might be as short as 30 days.

If someone was in your property and the steps collapsed and they fell down, you could be sued.

Deciding whether to let an agent look after your holiday home or maintain it yourself, is another important decision.

 

 

 



12th-March-2010