Showing posts with label tax.. Show all posts
Showing posts with label tax.. Show all posts

Monday, May 22, 2017

New Depreciation Rules only apply to properties purchased after 9 May 2017

Under the new rules which are yet to be legislated by Parliament, investors will be able to depreciate new plant and equipment assets within a new property and items they add to their property; however subsequent owners who acquire a property after 9 May 2017 will not be able to claim depreciation on existing plant and equipment assets.
Investors will still be able to claim qualifying capital works deductions, including any additional capital works carried out by themselves or a previous owner.
See also BMT blog

Tuesday, June 14, 2011

Stamp Duty

The decision by the State Government to remove the stamp duty home concession will flatten the struggling Queensland residential property market and cost homebuyers thousands of dollars, according to the Real Estate Institute of Queensland (REIQ).

The government announced today that from 1 August the concession which non-first home buyers receive when buying a new or established home as their principal place of residence will be removed. For a median-priced house in Brisbane, homebuyers will now be hit with more than $15,000 in stamp duty – an increase of more than $7,000.

There will be no change in stamp duty for investors.