澳洲Australia property Leapyear in terms of Tax | Sydney


在澳大利亚 I have been looking at units in Sydneys upper North Shore. Only in Ku-Ring-gai so up to Wahroonga. The area seems to offer good fundamentals, is very popular and in general seems to be a lovely place. My favoured location to buy I think is G Appologies for all the threads, I dont have much time to get organised before the auction on Saturday. I had a question about the solicitor/conveyancing fees. I remember last time I had this done it cost over $1000. But that was soliciting t


I have contacted the ATO and asked whether this 2003-2004 tax year will have 365 days or 366.

The answer is 366 days.

This is particularly helpful in terms of diminishing value type depreciation if you have only held an asset for part of a year.

Eg: Wood heater puchased on 04/07/2003 value $2,540.
Diminishing value 15%. $2,540 x 15% = $381 divided by '366' days x 363 days = $378  

评论
The last time I checked out, banks actually collected one day's extra interest.

If the annual rate was 7%, they charged on the outstanding balance 1/365 of 7%, for 366 days in the year.  

评论
that's just awful. $76 stolen if you've a $400k mortgage.

And, it happens on MY birthday. This year I turn 10 !  

评论
Hi Richard,

LOL. Nice birth date. My Auntie is in the same boat, which makes me older than her in terms of actual birthdays hehe.

Try asking to see if you can go interest free on your birthday? :p Not likely :(

-Regards

Dave  

评论
Originally posted by RichardK
that's just awful. $76 stolen if you've a $400k mortgage.

And, it happens on MY birthday. This year I turn 10 !
Click to expand...
Hi RichardK

Don't think of it as losing a day's interest this year - think of it as getting a quarter of a day's free use of the bank's cash for the past 3 years. :)

Congratulations on (almost) reaching the big 1-0!

Cheers

ocelad  

转载出处链接:http://www.china2au.com/html/Property_Investment/2020/0517/482329.html