Property investments almost always mean large amounts of money; when sold, it could mean large amounts of tax. And that’s why the ATO has provided a handy guide on property transactions.
Tax expert Michael Jones says every transaction is different, so it’s worth understanding some of the rules to ensure you don’t get caught out. Michael gives an example of a large property on the outer fringes of a capital city and the complicated rules in developing that land for sale.
Audio by Business Essentials. For more business interviews please visit http://www.be.com.au/business-essentials-audio-programs