Residential property: your tax checklist

In the current market conditions some clients have become disaffected with investment returns from equities, pooled funds and cash. In addition, market volatility has demotivated clients from investing in the markets and they have instead turned to residential property in an attempt to boost investment returns. If this sounds familiar, here is a list of what you and your clients need to know about tax liabilities: A property business All of a client’s rental properties are pooled together and treated as one business for tax purposes). The profit after deducting expenses is chargeabl...