Legal costs rejected

Article Abstract:

Westpac Real Property Growth Trust was merged into Westpac Property Trust, subject to the approval by the investors. The investor observed that his income had diminished as a consequence, so he filed a case against the managed fund investment company. He lost the case. In addition, he could not claim any tax deduction in respect of the legal costs in this unsuccessful court action.

Legal issues & crime, Legal/Government Regulation, Real estate investment trusts, Real Estate Invest Trusts, Company legal issue, Cases, Tax policy, Investor relations, Costs (Law), Legal fees, Breach of trust

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To GST or not to GST

Article Abstract:

It is important for trustees setting up a self-managed superannuation fund to decide whether to register the fund for goods and services tax (GST). Such funds need to be registered if their annual turnover, excluding interest payments, dividends and residential rents, is greater than 50,000 dollars.

United States, Pensions

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Property on tax office radar

Article Abstract:

Investors who have parked their funds in rental properties should examine their tax compliances as the Australian Tax Office is focusing on the exemptions being claimed under this category.

General services, Real Estate, Real Estate and Rental and Leasing, Purchasing, Real property, Rents (Property)

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