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Duties and taxes when you buy online from overseas

Items that you buy over the internet from an overseas source are generally required to abide by the same rules and screening processes that apply to any other “import”. Also, the usual duties or taxes should apply.Customs duties are regulated by the Department of Home Affairs (a recently formed body…

Dealing with tax and renting via Airbnb

While the focus here is on Airbnb, the tax concepts outlined could be applied in a more general sense to anyone seeking to rent out a part of their home, whether through Gumtree, Realestate.com.au, Flatmates.com.au and so on.The tax issues raised relate to hosts who:own their own home;live in it…

SMSF commutation requests: How to get the green light from the ATO

The ATO has issued guidance on its approach to commutation requests, which is an essential piece of information for SMSF trustees because it explains which commutation requests will not be subject to an ATO review. With recently introduced superannuation rules now in effect (from 1 July 2017), superannuation members with…

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