Property & Taxation: A Practical Guide to Saving Tax on Your Property Investments
August 2011, Wrightbooks
In plain English, Property & Taxation explains just what your tax obligations are. Inside you'll learn:
- how property speculators and property investors are taxed
- which expenses are tax deductible
- how to calculate a capital gain and capital loss
- about the tax issues associated with owning your main residence and overseas property investments
- how negative gearing works
- about owning property in different legal structures.
Packed with tax tips, tax traps to avoid and practical case studies, this comprehensive guide will give you the know-how to legally reduce your tax liability — and build your wealth.
About the author vii
1 The Australian tax system and property: removing the mystique 1
2 Property speculator or property investor: why you need to know 17
3 Taxing your property portfolio: the rules you need to follow 33
4 Taxing your capital gains: sharing your good fortune 71
5 This is where I reside and it’s all tax free 99
6 Investing in an overseas property: going global 119
7 Bankrolling your property purchases: money makes money 127
8 Six legal ways of owning property: this is how you’re taxed 145
9 Keeping proper records and tax audits: Big Brother is watching you 177
Appendix A: Key tax cases relating to property and taxation 209
Jimmy B. Prince is a fellow of CPA Australia and a tax specialist. He is a former lecturer at La???Trobe University and teaches at the Centre for Adult Education. He has authored several investment books including Tax for Australians for Dummies, 2nd Edition and Shares & Taxation, and has worked for the Australian Taxation Office and CPA Australia.