Chan & Naylor

Uber drivers and Airbnb operators would now have to declare all their incomes correctly. The ATO has a new system ready to check the taxpayer's correct income and tax deductions.

Financial services firm Investors Direct has wrapped up its successful "Start of Financial Year Annual Investor Update" event in Sydney last 19 July.

The payment related to the loss, destruction or compulsory acquisition of an underlying asset may constitute a capital gain tax event.

Those who want to buy or sell a property in Australia for $750,000 and above should know the Capital Gains Tax Withholding rules.

After the May Budget, the regulators could still pose an impediment to property investment success. The new financial year is here and investors could face even more difficulties because of slowing prices and flat rents.

If you are selling your home, you can claim the main residence tax exemption for the property you live in, including the land adjacent to it and other structures associated with the property like a separate garage or laundry.

The new budget comes with a significant change to the full claim of property investors. Those who had tax deductions previously for travel costs related to their property investment can no longer make such claims.

Property investors and home owners have been enjoying the lowest interest rate for a long time now. Regardless of the interest rate, you should just take a long-term perspective on your loan to save money.

In our financial planners' view, here are some EOFY and post July 1 strategies. If you can, you should consider maximising your concessional contributions, which you make on a pre-tax basis.

The end of the 2017 financial year is upon us and with FY2018 just around the corner, we better start changing our charge out rates for our teams after determining the new wages of our staff.