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A sinking fund is a practical financial tool used by body corporates to manage large or unexpected property expenses. These funds allow gradual savings for major repairs, upgrades, and repayments, ensuring financial stability without resorting to emergency funds or loans.This guide will explore what...

Thinking of turning your rental property into your principal place of residence (PPOR)? Understanding the tax implications is crucial to making informed decisions.Declaring Your Rental Property as Your Main ResidenceWhen transitioning a rental property into your main residence:You must declare it as...

Understanding depreciation is essential for managing your business's financial health and tax obligations. This guide simplifies the differences between book depreciation and tax depreciation to help you make informed decisions.What is Depreciation?Depreciation accounts for the reduction in value of...

Depreciation is a crucial yet often misunderstood aspect of tax planning. Missteps in advising clients can lead to missed deductions and compliance risks. Here are some common errors accountants and their clients encounter, along with insights to avoid them.1. Applying Individual Tax Rules to Compan...

Depreciation is a vital aspect of property investment, helping investors reduce taxable income and enhance cash flow. Among the various methods for claiming depreciation, the straight-line method is a commonly used approach. Here’s a detailed look at how it works and when it might be suitable for ...