DP O’Keefe Macquarie Law is a legal office in Dubbo NSW Australia.
Dan O’Keefe is an experienced solicitor, accredited business law specialist, mediator and notary public.
Providing practical, cost-effective & confidential advice.
Come to us for a high level of service in a friendly & personal manner.
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Do you deal in property? Property developers may need to register for GST.
The Australian Tax Office (ATO) requires you to register for GST if:-
- The turnover from your property transactions (and other transactions) is more than the $75,000 GST registration threshold (most property sales would be for more than this), and
- Your activities are regarded as an enterprise. Have you been doing up properties regularly and selling them?
If you have to add GST to the sale price of your property the purchaser may not always be able to claim an input credit for the GST they have to pay.
Talk to your accountant about this. More information from the ATO can be found here.
Why is your loan application taking so long?
"Heightened scrutiny by banks of the financial position of borrowers will be the new order and responsible lending will get a whole lot more responsible. … Those applying for a mortgage will need to outline what they spend on everything from Netflix to nannies and from cigarettes to chardonnay."
"… the inquiry into a borrower's expenses will be particularly granular. It will go well beyond loan repayments and credit card expenses. Customers will be asked to itemise their outlays on everything from cosmetics and clothes, to childcare, gambling, alcohol, and pay-television subscriptions."
(From Netflix to nannies: banks on warpath over every dollar you spend by Elizabeth Knight Sydney Morning Herald 13 November 2018, Judge tears up ASIC-Westpac settlement by Sarah Danckert & Lastest judgment shows why ASIC looks like a Keystone corporate cop by Elizabeth Knight Sydney Morning Herald 14 November 2018)
Teacher awarded six-figure payout after being bullied by school principal
(See Sydney Morning Herald article by Pallavi Singhal 20 September 2017)
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