Has anyone read this week’s BRW and in particular the article “Property Tax Cheats”?
As BRW has become expensive, I’m wondering is it worth buying this week to read this article.
Is it informative? worthwhile? Should I spend the money?
Does anyone have a comment on what it has to say?
Thanks,
Shushar“All our dreams can come true, if we have the courage to pursue them.” – Walt Disney
I hope this isn’t too much information to get into trouble re copyright.
A heavily edited version of the subjects covered by the article follows. If you want more, I guess you gotta give Fairfax their money:
Here is a guide to the eight main areas of alleged tax avoidance or evasion during this residential property boom:
1 Backyard subdivisions
2 GST on new home units
3 Double CGT exemptions
4 Land tax evasion
5 Related-party transactions
6 Income v. capital gains
7 Serial home buyers
8 Deposit bondsThere’s also a bit concerning flips and our mate Henry gets a brief mention.
I would suggest it is worth reading for anyone who considers themselves at the cutting edge of investing with buying / selling to family, subdivisions, buying off the plan etc. It always pays to keep in touch with what the ATO are getting excited about.
Thanks for the info.
I guess I’ll toddle on down to the newsagent and buy it.
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]“All our dreams can come true, if we have the courage to pursue them.” – Walt Disney
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