There are many who feel that negative gearing should be abolished. On the other side of the spectrum, there are many loyalists of the method too. Of course, some keep a moderate attitude. Pete Wargent for the Property Update writes a compelling piece wherein he also illustrates the impact of negative gearing through a few live examples.
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Simplifying Taxes Relevant To Property Investors
I wrote an article recently wherein I summed up how fee and taxes (please include Stamp Duty too) are among the prime buying concerns today. Well! I assume this article then will have its fair share of readers. While you can always claim a few tax benefits as a real estate investor, you should be ready to pay a few taxes just as well (I guess more than a few).
The Deadly Trio Of Fee, CGT, and Stamp Duty
Going by an article on the website Smart Property Investment, fee and taxes are prime concerns of home buyers. According to the article, a highly esteemed loan comparison website, finder.com.au, evaluated 7,000 questions on home loans (those which were posted in its forums). The website inferred that maximum concerns were related to fee. Fee included set-up fee as well as loan pre-closure fee.
Urgent Need To Do Away With Stamp Duty
The government-in-coming will do well to abolish stamp duty, says the Real Estate Institute of Australia (REIA). Stamp duty, levied as a traditional property tax, is not only inefficient but also decreases productivity of the nation.
Is There A Way Past Stamp Duty? Not Likely.
Unless you have benefitted from a matrimonial home via the Family Law Act or gained through a gift in Will, you will be at the receiving end of the Stamp Duty storm. Property taxes are pretty high for Australia when compared to other developed countries, suggests Anthony Keane for the website news.com.au
Nine quick tax tips for property investors
To be on the right side of law and the taxation system, you need to be diligent about planning and paying your taxes. Ken Raiss for the Property Update gives a few tax tips for the property investors.
