Investments and NSW

You can claim some rental expenses in the year you incur them, such as loan interest, council rates, repairs and maintenance, and depreciating assets costing $300 or less. Capital works, borrowing expenses and dearer depreciating assets are claimed over several years, and expenses are apportioned if you also use the property privately. Separate rental income, private use, borrowing costs, repairs and capital items before claiming expenses.

1. Gather agent statements, invoices, loan interest, ownership details and rental availability records.
2. Apportion costs where required and reconcile the deduction schedule to the supporting documents.

The treatment depends on the expense and property use; a rental label alone does not establish deductibility.

Property and land · How to claim rental expenses

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The bold answer was checked on 27 September 2026.

Repairs and maintenance are deductible in the year you incur them. Initial repairs for defects that existed when you acquired the property, improvements and replacing an entire unit of property are capital and are claimed over several years. Review what the work did to the property and when the relevant damage or condition arose.

1. Keep invoices, scope of work, purchase condition and dates; split distinct components where supported.
2. Assess repair, capital works and depreciating asset treatment separately and update the relevant schedules.

Cost alone does not distinguish a repair from an improvement or initial repair.

Property and land · Repair and maintenance expenses

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The bold answer was checked on 27 September 2026.

The capital gain is the capital proceeds less the cost base. An Australian resident individual who owned the property for at least 12 months can usually reduce the gain by the 50% CGT discount. Build the capital gains calculation from the relevant event, proceeds and adjusted cost base.

1. Gather purchase and sale contracts, costs, ownership and occupancy history, and capital works records.
2. Review any exemptions, adjustments, residency and discount conditions before calculating the net result.

A sale price minus purchase price calculation can omit material tax adjustments.

Capital gains tax · How to calculate your CGT · Experimental tax worksheets and supported years

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The bold answer was checked on 27 September 2026.

Apply capital losses first. An Australian resident individual who owned the shares for at least 12 months can then reduce the remaining gain by the 50% CGT discount. Calculate each gain or loss, apply eligible capital losses, then consider any available discount.

1. Retain trade records, cost base adjustments, holding periods and carried-forward loss balances.
2. Reconcile the final calculation to the year’s CGT schedule and keep the remaining loss record.

The bounded worksheet assumes the gains, losses and discount eligibility have already been established.

Capital gains tax · How to calculate your CGT · Experimental tax worksheets and supported years

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The bold answer was checked on 27 September 2026.

Often, yes. Selling crypto or swapping one crypto asset for another is a CGT event, so a gain can be taxable. Review each crypto disposal and income event, including swaps and spending, rather than only withdrawals to cash.

1. Export exchange and wallet activity, fees and Australian dollar values with dates.
2. Reconcile transfers between your own wallets separately from transactions that require tax review.

The tax treatment depends on the activity and event; this site does not import wallets or classify transactions.

Crypto asset investments · Crypto asset transactions

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The bold answer was checked on 27 September 2026.

Declare ETF distributions, including amounts reinvested through a distribution reinvestment plan. Your ETF tax statement, such as an AMMA statement, shows the amounts to report and where, and non-assessable amounts mostly adjust the cost base of your units. Use the fund’s annual tax statement and any AMMA statement to reconcile the distribution components.

1. Match cash, reinvestments, capital gains, foreign income and credits to the statement.
2. Record cost base increases or decreases and carry them into the investment register.

Cash received alone can differ from the amount and components that belong in the tax return.

Investments and assets · Exchange traded funds · Managed investment trusts

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The bold answer was checked on 27 September 2026.

Trustees must appoint an approved SMSF auditor each year, at least 45 days before the SMSF annual return is due. The auditor needs a statement of financial position and an operating statement before starting, and any requested information within 14 days; the audit must be finished before the return is lodged. Prepare the financial records and trustee evidence needed for both the return and the independent audit.

1. Gather bank and investment records, valuations, contributions, pensions, minutes, member balances and supporting agreements.
2. Reconcile opening and closing balances and resolve the auditor’s record requests before finalising the return.

This checklist does not perform an SMSF audit or certify compliance.

ATO self-managed super funds · Your SMSF auditor

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The bold answer was checked on 27 September 2026.

For the 2026 land tax year, NSW land tax applies when the combined taxable value of your land, excluding exempt land such as your home, exceeds the general threshold of $1,075,000. Check ownership, land values, exemptions and any surcharge conditions for the relevant NSW land tax year.

1. Reconcile all relevant NSW landholdings, ownership interests and valuation notices.
2. Use Revenue NSW’s current assessment guidance and retain the calculation and exemption evidence.

Purchase price and one property’s value alone do not establish the full land tax position.

Land tax · Preparing for the 2026 land tax year, Revenue NSW · Land tax thresholds and rates, Revenue NSW

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The bold answer was checked on 27 September 2026.

Yes, for eligible employees in the black coal mining industry. The employer reports and pays the levy monthly, currently 2.7% of each eligible employee’s eligible wages. The levy depends on whether each employee is an eligible employee in the black coal mining industry, then on that employee’s eligible wages for the month.

1. List each employee’s role and check it against the Coal LSL eligible employee guidance.
2. Work out each eligible employee’s eligible wages for the month using the section 3B formula that applies.

The calculator does not decide whether an employee is eligible; it calculates the levy on the wages you supply.

Coal LSL levy returns and payments · Coal LSL employee eligibility · Coal LSL levy calculator

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The bold answer was checked on 27 September 2026.

Before engaging anyone for tax work, check that they are listed on the Tax Practitioners Board register. Shortlist providers against the work you need and verify the relevant registrations.

1. Check the TPB register for tax or BAS services, and ask who prepares and reviews the work.
2. Request a sample reporting pack, Xero experience, cash forecast process, responsibilities and a written scope.

Location or software certification alone does not demonstrate the quality of advice or forecasting.

TPB register of tax and BAS agents

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The bold answer was checked on 27 September 2026.