ARE YOU A PROPERTY OWNER?

If so, you should note that the ATO has put together a Property page on its website. It is a repository for easily accessible information relevant to all property related transactions. There may be information on this page to help you better understand your tax obligations at different points in the lifecycle of acquiring, owning and selling property.

The property page contains information on topics including:

  • Buying, selling and renting property;
  • Inheriting a dwelling;
  • Vacant land;
  • Subdividing;
  • Property development, building and renovating; and
  • Property used to run a business.

Of course, your tax adviser will always be able to assist you with any tax queries you have in relation to property ownership.

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