How to Calculate Loan Interest Portions Based on Use

Joshua Easton Tax

Q: Mr A has obtained a loan $250k using his residential house as security. For example, he used $100k for personal use and used $150k for investment use. Unfortunately, his loan statement does not distinguish the monthly interest and principal payment for personal use and investment use. What’s the best way to calculate the interest and principal payment of investment …

Tax, Active Assets and Small Business Concessions

Joshua Easton Tax

Q: Purchase of farming property in May 2013 for $1,600,000 in the family trust. The family trust is a business of primary production. This 160-acre property has since been rezoned to residential R1 and approximately 800 lots will be available for sale at 550 sq. metre minimum lot sizes. We plan to sell the 160-acre property prior to development with …

Australian Tax Residency

Joshua Easton Tax

Question Part A Hi, I have a client that has a question surrounding Australian Tax Residency. His circumstances are as follows: Had been an Australian resident since birth In 2007 he moved to Indonesia permanently with his spouse & 2 children They rented out their Principal Place of Residence for 2 years & then sold it In 2012 he split …