CA (Chartered Accountant)/Tax Agent/会计 - 在线解答各类Tax/Accounting问题

angelasy

你好，请问如果自己管理投资房，需要申请ABN么？
退税时需要提供哪些文件呢？另外，买投资房的律师费，inspection fee什么的可以拿来抵税么？

无敌小太妹

买生意前的支出,比如律师费之类的可以计入成本吗

shuangchao

原帖由 angelasy 于 2010-3-25 21:36 发表
你好，请问如果自己管理投资房，需要申请ABN么？
退税时需要提供哪些文件呢？另外，买投资房的律师费，inspection fee什么的可以拿来抵税么？

you can certainly management your own investment property, no ABN is required, legal fees re purchase of property and inspection fee will be added to the cost base of the house. they can not be used to offset your rental income for the year

shuangchao

原帖由 无敌小太妹 于 2010-3-25 21:58 发表
买生意前的支出,比如律师费之类的可以计入成本吗

legal fee relating to purchase of business, is not an expense, it is capital in nature and will be used to offset against your future business sales proceed.
legal fee relating to setting up a company/trust, can be amortised & claimed over 5 years

angelasy

谢谢你给我解惑～～
那个，可以详细说下退税的时候需要什么文件么？
租房合同？租金收据？

shuangchao

原帖由 angelasy 于 2010-3-27 20:29 发表
谢谢你给我解惑～～
那个，可以详细说下退税的时候需要什么文件么？
租房合同？租金收据？

Your need to provide your tax agent with
rental income for the financial year
rental expenses including:
interest on mortgage
repair/maintainance
land tax
rates
insurance
advertising
any other expenses relating to the rental property

patricb

请教一个问题：
假设贷款30万，买了一个28万的投资房，房子ready for rent, 同时pay interest in advance 2 万. 这个2万当年可以抵税应该没有问题。
又假设实际是另外借了一个equity loan 来支付这2万元的贷款利息，下一个财政年度里，这2万元的贷款又产生了3千元的利息，这3千元能抵税吗？
Have I  made myself clear?   thanks

[ 本帖最后由 patricb 于 2010-3-30 22:20 编辑 ]

shuangchao

原帖由 patricb 于 2010-3-30 22:19 发表
请教一个问题：
假设贷款30万，买了一个28万的投资房，房子ready for rent, 同时pay interest in advance 2 万. 这个2万当年可以抵税应该没有问题。
又假设实际是另外借了一个equity loan 来支付这2万元的贷款利息 ...

if i understand you correctly, i do believe the 3k interest should be deductible as the loan does satisfy the purpose test, however it is important to note that the prepaid interest should be at a reduced rate, otherwise the ATO may disallow the deduction if the client is doing something purely for the tax benefit. feel free to contact me to clarify further.

shuangchao

The high court has made the decision on "Bamford Case" for those who are interest in trust or are managing their own trust, this is one case you have to know.

si_ssi

请问09年度的投资能不能转移到10年度再报税？
2月份申请了ABN，打算做点小生意，投资买了点小设备。本来打算6月开张营业，但是目前遇到些困难，一时半会儿开不出来。
所以想问，到了7月份09年度报税的时候，能不能先报亏损，然后把这些投资转移到下年度里，好用来抵扣下半年的经营收入，减少下半年税收？
或者请教高人具体应该怎么操作比较好呢？

shuangchao

assuming you bought capital equipments for business use, you can start depreciating them when they are purchased/ready for use. assuming you bought a computer at 30/06/09 for $900 inc GST, under SBE, you can write off the equipment under $1000. therefore you have a $900 loss for the year and no income generation, in 2010, you make $900 in business income, the loss from 09 will be offset again income in 10. hence, nil profit for the business

shuangchao

原帖由 eagleoverberlin 于 2010-3-4 14:34 发表
本人因生意需要买一辆旧van,请问是否需要要求卖主出具receipt作为将来退税的依据

yes you should

孤独的牛

David, suppose you were an expected buyer of a small business, what kind of information or documents you need to obtain to judge whether  this business is deserved to buy from the view of a professional

shuangchao

原帖由 孤独的牛 于 2010-4-7 10:44 发表
David, suppose you were an expected buyer of a small business, what kind of information or documents you need to obtain to judge whether  this business is deserved to buy from the view of a profession ...

it depends on the nature of the business, with alot of cash business, the financial you get are usually unreliable.
however, as a basic rule of thumb, you need to:
- assess your own situation, think about the oppotunity costs and return vs time spent. alot of times, small (cash) business are not as attractive as it sounds when you have to give up a stable job
- Do your own research on the industry and business itself, every business is unique, understand the location, the customers, the profit margins etc.
- obtain financial details of the business, and try to verify as much as possible, in doubt, consult with your accountant. some vendors are willing to release purchase orders to prove their actual sales.
- try to have the vendor put everything down in writing.
- Ensure you have everything you need to run the business, ask vendor if a special license is required.
- obtain a lease agreement, and make sure you understand the terms and your obligations as the potential leasee. do you have renewal option? or is it yours to exercise?

孤独的牛

purchase orders and expense bills are more reliable than financial abtained from vendor .
purchase orders and expense bills can reflect actual business situation.

am I right?

shuangchao

原帖由 孤独的牛 于 2010-4-7 12:52 发表
purchase orders and expense bills are more reliable than financial abtained from vendor .
purchase orders and expense bills can reflect actual business situation.

am I right?

The more information you can get from the vendor, the better.

IceCreamz

Hi,
ATO is introducing SBR as of July.  Do you know what accounting software will adopt this?

a1151971

Hi David,
The Henry tax Review will give Australian taxpayers 2 options in future to declare their tax returns as you may know already.

What I am worry about is my job prospects in the future. Because currently I am doing individual tax return every tax season(July-Oct.) in a commonly known tax return company.

Should I broaden my skills or just change the job? And any tips on finding a higher tax position job?

Thanks in advance!

shuangchao

原帖由 a1151971 于 2010-4-11 19:49 发表
Hi David,
The Henry tax Review will give Australian taxpayers 2 options in future to declare their tax returns as you may know already.

What I am worry about is my job prospects in the future. B ...

well, any major tax reforms takes a long time to complete, the last major tax-overhaul proposed in 1975 took 20 years to take place.
The proposal in relation to the individual tax return is just one part of the henry tax review, while it does have some positive impact on the economic which may make it happen abit sooner than other proposed changes. i do not see it to be a major impact on the tax profession. the current e-tax system is already doing most of what the review is recommending. in addition, i think, with any major tax changes, while it elimates some existing services, it will create alot of oppotunities for other services. i don't think the tax agent profession will suffer to much as a result of it, even the ones that makes money mo

shuangchao

mostly from individual returns.
in your case, i definitely think you should try and get exposure to the other areas of tax services, regardless of the henry review. maybe, try and see if there is oppotunity to move into business services in your own firm. if not, then try look at other firms, your existing experience will put you ahead of other candidates for the junior positions in the bigger firms.

a1151971

Hi David,
Thank you sooo much for your quick and detailed reply!!!
I can get a more clear picture of tax related job prospects and boost my confidence.

I will try business service section.

Is there any specific areas under business service? Like company tax return or something else?  

Thank you!
echo

ruirui30

our scenario is :
family income is about 100,000(after tax), one is IT contractor, one is normal office job.  How do we make good use of the tax return ? like, what kind of invoice/receipt we need to keep ?

Thanks!

[ 本帖最后由 ruirui30 于 2010-4-12 13:19 编辑 ]

judyqianqian1

LZ: 我女儿今年初去墨尔本读大学预课,在国内中介推荐下买了套市内公寓期房,由于年底才能交房,我把购房款汇入她的银行帐户,目前银行利息收入是两千多每月,她已申请了税号并转交银行,我想咨询一下,她是否需要在7月申报利息收入? 另外,她目前是学生,没有其它收入,银行利息要不要扣税呀? 非常感谢您的帮助!

shuangchao

原帖由 judyqianqian1 于 2010-4-12 19:03 发表
LZ: 我女儿今年初去墨尔本读大学预课,在国内中介推荐下买了套市内公寓期房,由于年底才能交房,我把购房款汇入她的银行帐户,目前银行利息收入是两千多每月,她已申请了税号并转交银行,我想咨询一下,她是否需要在7月申报 ...

She needs to lodge a tax return, however, with no other income, she will not have to pay any tax at year end. (she still needs to lodge return to report her income though)

Lakers

Hello David
如果我用自住房作为Home Office的话，会不会影响将来卖房时的CGT呢？
谢谢！

shuangchao

原帖由 ruirui30 于 2010-4-12 13:18 发表
our scenario is :
family income is about 100,000(after tax), one is IT contractor, one is normal office job.  How do we make good use of the tax return ? like, what kind of invoice/receipt we need t ...

- Professional library
- Telephone/mobile
- Computer hardware/software
- Professional journals
- home office equipments, study desks, book shelves
- annual professional subscriptions
- if your husband does alot of client travel, it is often worthwhile to keep a logbook, contact me for more details

shuangchao

原帖由 Lakers 于 2010-4-13 16:08 发表
Hello David
如果我用自住房作为Home Office的话，会不会影响将来卖房时的CGT呢？
谢谢！

Hi, Laker

alot of people claim home office expenses, e.g. light and power, it will not trigger an CGT event when you sell the house. However, if you are claiming it as a place of business i.e starting to claim interest on the loan, then CGT will occur at disposal

Hope this helps,

Lakers

谢谢楼主的回复！

a1151971

Hi David,

Thank you for your reply. I am echo. I just would like to know there is any specific definition of "business service"? Just mean tax return, tax planning for big clients, like company or something more than that?

cheers!

unununium

Hi David:
请问公司的季度GST报表最迟什么时候要lodge？
谢谢！