TIPS ON HOW TO MINIMISE TAX IN A TIGHTER WORLD

In a tax year where fairness and equity in our property tax system was mercilessly sacrificed in pursuit of the government’s social agenda on house prices, it is as important as ever to go into the new year with a clear picture of what lies ahead on the tax front.

While changes to interest deductibility, bright-line and loss ring fencing have dominated the landscape, there are still opportunities to be found if you know where to look.

This article offers a recap on some fundamentals and commentary on the changes that will help you minimise your tax.

Fundamentally, there are only three things you must get right to ensure you are minimising your tax liability.

1. Ensure you are claiming all the deductions