Mr Taxman
Change the way you feel about taxes.
Get informed and discover what the taxman doesn't want you to know.
Sharing it with Australia, Mr Taxman is a regular Woman’s Day columist and TV finance commentator
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Reader question: We purchased a house with our son 8 years ago. We rented it out for 4 years and then my son moved in but we (my husband and I) continued to receive rent from some of the bedrooms my son rented out to cover our mortgage. We have now sold our 50% share to our daughter-in-law so now my son and his wife own the house and are living in it. They plan to live there for quite a few years and renovate it. How does Capital Gains affect him once he sells it (maybe in 10 years)?
On 22 November 2012, Superannuation Legislation Amendment (MySuper Core Provisions) Bill 2012 was passed by the Senate with two Government amendments relating to the commencement of the Act.
Where an employee's duties of employment are inherently itinerant in nature, is their journey between home and a work location in their employer's car a 'business journey' as defined in subsection 136(1) of the Fringe Benefits Tax Assessment Act 1986 (FBTAA) if they transport a family member during part of the journey? We have a look at a recent ATO Interpretative Decision
The 2012-13 Mid-Year Economic and Fiscal Outlook (MYEFO) proposes that the government's rebate applied to private health insurance will be calculated using commercial premiums as at 1 April 2013 and then indexed annually by the lesser of CPI or the actual increase in commercial premiums. This will be used to determine an individual's private health insurance rebate.
From 1 July 2013, the private health insurance rebate will no longer be paid on any lifetime health cover loading applied to the cost of a private health insurance policy for lifetime health cover.
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  • "Hello, I got married overseas in December 2016, My wife is still overseas. She doesnt work and i have provided her sustenance from here. Can I claim deduction on partner ? Thanks"

    By: SK at Jun 24, 2017 8:48AM

    Post: Marriage

  • "Hi there, I am non resident and just bought a property in Perth. Property price was $800k, Australian bank had lent me $200k against the property, and rest $600k I have loaned from my bank in UK..."

    By: Nick at Jun 16, 2017 12:00AM

    Post: Buying property as non-resident

  • "Hi there, I have an enquiry regarding CGT please. My son purchased a house nearly six years ago (6 years this December 2017) When he purchased he lived in it for 8 months but then he decided he..."

    By: maree at Jun 15, 2017 11:45PM

    Post: Little known ways to reduce capital gains tax on your investment property

  • "I have a similar situation. I live overseas but visit Australia and am an Australian resident for tax purposes. I am marrying an American who also lives overseas. I have a property in Australia so it..."

    By: Bron at Jun 14, 2017 7:32AM

    Post: Marriage

  • "I have recently got a job as a contract sales consultant and spend a lot of time on the road, but they don't offer a car allowance, I pay for all exspenses on a flat hourly rate."

    By: Sandy at Jun 13, 2017 10:26AM

    Post: Claiming car expenses