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Tax tips & traps - Property

What are the tax rules around buying, selling and investing in property? Read on to find out more.

Inherited assets and unrealised gains
Do you know about an unrealised gain on an asset passing under a will from a deceased person to a non-resident beneficiary?
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No capital costs of ownership for dwellings purchased before 21 August 1991
Did you know you can add non-deductible interest and other non-capital costs related to your house to the cost base? More...

Adjacent land and the 2 hectare rule
Do you know the main residence exemption for your dwelling can apply to an area that is adjacent to your dwelling?
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Demolishing your existing home to build a new home

Did you know that you could receive a full main residence exemption when you demolish an existing home to build a new home? More...

Stepped up cost base for your former main residence
Did you know you could obtain a stepped-up cost base for your former main residence?
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Building allowance vs cost base of the property
Did you know that the cost base of the rental property must be reduced by any building write-off that has been allowed, or is allowable when calculating a capital gain on the sale of a rental property? More...

Claiming negative gearing on a foreign rental property
Do you know that you could claim negative gearing on a foreign property against Australian income? More…

Extending the main residence exemption
Did you know that you could choose a dwelling that was under construction and the land as your main residence for up to four years before it actually became your residence? More…

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