Picture a tax system where everyone is entitled to a $3000 standard deduction, free of the rigmarole of receipts and deductions. Could it actually work?
Own an investment property? You can claim a tax deduction for the cost of gardening, pest control and hiring a debt collector, but what can't you claim?
It's the dream of everyone who watches property makeover shows on TV: give up the day job to renovate and flip houses. But what are the tax implications?
Sally and her husband live overseas and own properties in Darwin and Cairns. What does Paul Clitheroe think of their plan to sell one to pay off the other?
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