Posted on 22 Nov 2021
We have been inundated with legislation to try and dampen the property market inflation and assist entry-level buyers into the market. Unfortunately, this has resulted in many scenarios where buyers and sellers of property are affected by legislation inadvertently resulting in unnecessary costs and tax issues.
It is imperative that anyone buying or selling a property is aware of the issues and definitions affecting the bright-line rules.
Excludes
(If your main home was not used as your main home for any continuous period or periods of more than 12 months during the bright-line period, the main home exclusion will not apply to the period(s). You will pay tax on the portion of profit that relates to the period(s). This is the 'change-of-use' rule.)
As you can see the bright-line test, originally quite simple, has now become both complex and potentially onerous.? We would recommend that you discuss any property transactions with us prior to signing any agreement so that you are aware of the implications of doing so.
Managing your debtors and your debtor days means better cashflow for your business. And let’s face it, cashflow is the lifeblood all businesses need right now! We list tips for better debtor management so you can achieve a healthier cashflow. For more approaches and support get in touch with one of our team today. Read more
As more of our personal details are shared online through online shopping, banking, and emails, the more of a target we become for cybercriminals. Check out our blog for tips for keeping you and your business safe. Read more
If you’re thinking of selling your business or looking into selling, you’ll want to have a plan or an exit strategy. Read our blog to find out more on what to include in that plan and the items you’ll need to consider. Read more
Did you know that we also have a newsletter?
Sign up now for tips to energise your business.