Lien & Ling Consulting - Tax Depreciation

06/10/2016

Attention all property investors, the personal income tax lodgement is due end of October. If you still looking to get a tax depreciation report, do let us know. 😎

13/09/2016

New fire alarm legislation - What does it mean to property investors?

* What type of alarms should be installed?
The Coroner ruled that these smoke alarms should be interconnected and be hard-wired in new residences, or alternatively powered by a 10 year lithium battery in existing residences.

The Fire and Emergency Services (Domestic Smoke Alarms) Amendment Bill 2016 requires that smoke alarms comply with Australian Standard 3786-2014.

* Where should Smoke Alarms be located?
The State Coroner advised that photoelectric Smoke Alarms should be installed in every bedroom, between areas containing bedrooms and the rest of the dwelling, in any hallway servicing bedrooms, and in any other story of a domestic dwelling.

This means that smoke alarms should be installed in locations as stated in the Building Fire Safety Regulation 2008 for existing buildings, and the Building Regulation 2006 for new buildings.

* How does this affect existing properties?
The Act will only initially apply to domestic dwellings where an application for a building approval is made after 31 December 2016 or in any property that will undergo a substantial renovation.

So any new, or substantially renovated homes will need to be compliant with the new smoke alarm provisions as of 1st January 2017.

* I’m a Landlord – what do I need to do?
The Act states that these requirements will apply to every existing property where a Contract of Sale is entered into or a Tenancy is either entered into or renewed by 31 December 2021.

So within the next five years, Landlords must ensure that all properties that are being rented will need to adhere to the specifications outlined in the Act.

Additionally, any owners of existing properties – including Landlords – will need to replace smoke alarms under these new requirements within 10 years of the manufacture date of the existing smoke alarms or whenever they fail any routine checks.

Further information -https://www.legislation.qld.gov.au/Bills/55PDF/2016/B15_0421_Fire_and_Emergency_Services_(Domestic_Smoke_Alarms)_Amendment_Bill_2016.pdf

30/08/2016

What will be next??

https://www.linkedin.com/pulse/uber-loses-12-billion-first-half-2016-end-sharing-economy-brian-solis?trk=eml-b2_content_ecosystem_digest-hero-22-null&midToken=AQECfvOVULK4lw&fromEmail=fromEmail&ut=3VRZbYQp-JuDo1

Bloomberg’s Eric Newcomer reported that on a recently Uber quarterly call with shareholders, the company’s head of finance, Guatam Gupta announced that Uber’s losses continue to escalate. Total losses

29/08/2016

Interest article from Matusik - Brisbane is doing well

http://eepurl.com/cbLvZb