Thursday 5 Dec 2024
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ATO reveals small business hit list to combat tax debt
What are the FBT implications of Employee Christmas Parties and Gifts?
Assess a business before you buy it
Christmas Parties and Taxi Fare/Rideshare – FBT implications.
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Our SG compliance results are here
Top 20 Most Watched Christmas Movies ever - pre covid
A Unique Advent Calendar
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Protect your small business by following these essential steps.
Super guarantee a focus area for ATO business debt collection
Controversial ‘Airbnb tax’ set to become law
Withholding for foreign residents: an ATO focus area
1 in 3 crypto owners confused about tax, study reveals
20 Years of Silicon Valley Trends: 2004 - 2024 Insights
ATO reveals common rental property errors from data-matching program
New SMSF expense rules: what you need to know
Government releases details on luxury car tax changes
Treasurer unveils design details for payday super
6 steps to create a mentally healthy and vibrant workplace
What are the government’s intentions with negative gearing?
Small business decries ‘unfair’ payday super changes
The Leaders Who Refused to Step Down 1939 - 2024
Time for a superannuation check-up?
Scam alert: fake ASIC branding on social media
Millions of landlords the target of expanded ATO crackdown
Government urged to exempt small firms from TPB reforms
ATO warns businesses on looming TPAR deadline
How to read a Balance Sheet
Unregistered or Registered Trade Marks?
Most Popular Operating Systems 1999 - 2022
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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

        
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