Insights and News
Adjusting Tax Returns to Capture Missed Depreciation
Are you an investor and have only recently become aware of a tax depreciation schedule and the deductions that are available for your investment property? Firstly, welcome to the party! Secondly, let’s tackle this right now as you might be missing...
Renovations and Depreciation: Division 40
ATO: “Any owners who purchase a second-hand residential investment property who have exchanged contracts after 7:30 pm on the 9th of May 2017 will not be able to claim tax depreciation on existing Plant and Equipment (Division 40).” Well, have you...
The Design and Building Practitioners Act 2020 (DBP) Act Key Takeaways
What is the DBP? The Design and Building Practitioners Act 2020 (DBP) Act regulates design and building work in NSW by imposing certain obligations on Design, Building and Engineering Practitioners. The DBP Act covers class 2 buildings and...
The Value of Australian Standards Key Takeaways
What are They? Standards Australia is the country’s leading independent, non-government, not-for-profit standards organisation. Australian Standards (AS) establish a common language to define quality and safety. In a nutshell, a standard is an...
Overview of Stage 1 in the Strata Building Bond Scheme
Stage 1 of the Strata Building Bond and Inspections Scheme is for the developer of a new residential strata building (4 storeys or higher) to lodge a building bond in the form of a bank guarantee with NSW Fair Trading. This is required prior to...
The Strata Building Bond and Inspections Scheme
What is the Process for Complying with the Strata Building Bond and Inspections Scheme? There are many different stages for the developer to undertake in order to comply with the Strata Building Bond and Inspection Scheme. NSW Fair Trading offers...