The flipside of renovating

Many clients presume that when they renovate their gains will be exempt from tax, so long as the property being renovated is their main residence. This is not always the case. We’ve summarised the ATO’s guide to property development, building and renovating, and pulled out key points about the tax implications of property flipping. To read the full guide, visit the ATO website. What is property flipping? Property flipping occurs…  Read more