Finance & Taxation

Under WA transfer duty rules, what concessions are available to first home buyers purchasing an established home?

What is the First Home Owner Grant (FHOG) in Western Australia?

In WA, what is the state tax on the transfer of property officially called under the Duties Act 2008?

A property investor in Victoria owns multiple investment properties with a combined site value exceeding the land tax threshold. The investor restructures ownership by transferring properties into separate discretionary trusts. Under Victorian land tax law, what is the consequence of this strategy?

Which of the following statements about land tax in Victoria is correct?

A first-home buyer in Victoria signs a contract for a newly built home priced within the limits that apply at the time. Which assistance are they most likely eligible for?

In Victoria, what is the name of the tax payable by a purchaser on the transfer of real property?

A developer in SA sells a new residential apartment. How does the GST margin scheme work in this context?

Under SA's stamp duty regime, how is duty calculated when a property is transferred between related parties at below market value?

How is land tax calculated in South Australia?

As at 2026, how does South Australian land tax treat land held on trust?

What are the capital gains tax (CGT) implications of selling an investment property in SA?

A WA property investor earns rental income from an investment property. Which of the following is a deductible expense for income tax purposes?

What is the GST treatment of residential property sales in SA?

Under Australian tax law as applied in SA, what is negative gearing?

What land tax exemption is available for a principal place of residence in SA?

What is stamp duty (transfer duty) in South Australia?

A buyer purchases a Queensland property at auction for $800,000. The property was marketed with an advertised price guide of $650,000 to $700,000. For transfer duty calculation purposes, the duty is assessed on:

Negative gearing of a Queensland investment property means that:

In Queensland, the foreign acquirer surcharge on transfer duty applies to:

An agency held trust money during the year ending 30 June 2026. By when must its trust account audit report be lodged?

A property manager receipts $1,800 cash rent on Tuesday and locks it in the office safe for the agency's usual Friday banking run. Is this compliant, assuming Wednesday banking was practicable?

Sarah bought an investment property for $600,000 in January 2020 and sold it for $750,000 in March 2024. She incurred $15,000 in selling costs. What is her net capital gain for CGT purposes?

Sarah, an Australian resident, bought an investment property for $500,000 in 2020 and sold it for $650,000 in 2024. If her whole discounted gain is taxed at her 37% marginal rate, how much tax does the gain cost her?

What is the main residence exemption for Capital Gains Tax?

An Australian company purchases a commercial property for $2.5 million and holds it for 18 months before selling for $3 million. What CGT discount, if any, applies to this transaction?

Which scenario would likely result in capital gains tax liability when selling a property?

A couple buy a house for $800,000, live in it as their main residence the whole time, never rent it out, and sell it 18 months later for $900,000. What is their assessable capital gain?

An Australian-resident individual sells an investment property after 3 years for $1.5 million. It cost $1.2 million, and the owner spent $50,000 on capital improvements and $25,000 on selling costs. How much of the capital gain is included in assessable income?

A married couple jointly own their home, bought 10 years ago for $600,000 and now worth $1.2 million. They move to a new home, which they treat as their main residence, and rent out the old one. What are the CGT consequences when they later sell the old home?

A property investor purchased an investment property for $500,000 and sold it 18 months later for $600,000. What CGT discount are they entitled to as an Australian resident?

An Australian resident inherited a property from their deceased parent in 2020 valued at $400,000 and sells it in 2024 for $520,000. The property was the parent's principal place of residence. What is the cost base for CGT purposes?

John bought an investment property for $500,000 in 2020 and sells it in 2024 for $700,000. Over that time he claimed $40,000 in capital works (Division 43) deductions on the building. What is his capital gain before any CGT discount?

A licensee discovers that one of the agency's trust accounts has become overdrawn after a mistaken payment. What does the Property and Stock Agents Act 2002 require?

A buyer pays an expression of interest deposit on a Wollongong unit, but a different buyer then exchanges contracts. When must the agent refund the first buyer's deposit?

A vendor and purchaser agree that the 10% deposit on a long settlement should earn interest for them. How can the agent hold it so the interest is not paid to the Statutory Interest Account?

What is the primary purpose of the Foreign Investment Review Board (FIRB) in relation to property purchases?

Above what purchase price does a foreign person need foreign investment approval to buy residential land in Australia?

Which body examines foreign investment proposals, including foreign purchases of residential property, and advises the Treasurer on whether to approve them?

Which foreign investors are required to seek FIRB approval before purchasing residential property in Australia?

A foreign investor purchases an established residential property in Australia for $800,000 without FIRB approval. What is the most likely consequence?

A foreign investor wants to purchase an established residential property in Australia. What FIRB requirement must they typically meet?

A foreign person bought a dwelling under a foreign investment approval and later breaches a condition of that approval. Which enforcement power can the Treasurer use?

A GST-registered developer sells a new apartment for $750,000 including GST, without using the margin scheme. How much GST is included in the price?

A property developer sells a new apartment for $800,000 including GST. The purchaser is claiming the First Home Owner Grant. What is the GST-exclusive price the developer receives?

What is the current GST rate that applies to new residential property sales in Australia?

On which of these property sales is no GST charged?

A GST-registered developer sells a newly built house and land package and does not use the margin scheme. On what is the GST worked out?

A property developer in Queensland sells a new townhouse for $550,000 including GST. The developer is registered for GST and the margin scheme does not apply. What amount of GST must be remitted to the ATO?

GST applies to which type of property sales in Australia?

A GST-registered developer bought land for $300,000 from a seller who was not registered for GST, built a house and sold it for $750,000. The parties agreed in writing to use the margin scheme. What GST is payable on the sale?

A GST-registered developer buys land for $200,000 including GST and builds a new house, which it sells for $550,000 including GST. Ignoring construction costs and assuming full input tax credits on the land, what is the net GST payable to the ATO?

A property developer sells a new residential unit for $550,000 including GST. The purchaser later discovers the contract did not clearly specify GST treatment. Under Australian tax law, what is the likely outcome?

A GST-registered developer in Victoria sells a new apartment for $750,000 including GST and does not use the margin scheme. What is the GST component of the price?

GST applies to which type of residential property sales in Australia?

A new property manager asks who keeps the interest earned on the agency's general trust account. What is the correct answer?

An owner-occupier compares variable rate loans offered by the same lender on the same day. Which is usually priced at the lowest interest rate?

A principal and interest mortgage differs from an interest-only mortgage in that:

With which type of mortgage does the borrower's whole loan face higher repayments as soon as the lender raises its rate?

What is a principal and interest mortgage?

Which home loan feature lets a borrower pay extra into the loan account itself and later withdraw those extra repayments?

A borrower is comparing a principal and interest loan versus an interest-only loan for an investment property. What is the main advantage of an interest-only loan for property investors?

What is the key difference between a principal and interest loan and an interest-only loan for property investment?

Maria's investment property generates $25,000 annual rental income but costs $35,000 per year in loan interest, rates, and maintenance. How does this affect her tax position?

A property investor claims the following annual expenses: mortgage interest $15,000, property management fees $2,000, council rates $1,500, and depreciation $3,000. If the annual rental income is $18,000, what is the tax-deductible loss?

An investor purchased a property using a 90% LVR interest-only loan at 5.5% per annum. The property cost $1,000,000 and generates $45,000 annual rent. After claiming all allowable deductions including $49,500 loan interest, what is the annual tax impact?

An investor owns a negatively geared property with annual rental income of $25,000 and total deductible expenses of $35,000. If their marginal tax rate is 37%, what is their annual tax saving?

Sarah owns an investment property that generates $25,000 annual rental income. Her annual expenses are $18,000 in interest, $3,000 in rates and maintenance, and $2,000 in management fees. What is her tax position?

John owns a negatively geared investment property and also operates a small business. The rental loss from his property can be offset against:

An investor with several rental properties wants to maximise negative gearing benefits. Which cost can NOT be claimed as an immediate deduction against rental income in the year it is paid?

What is negative gearing in property investment?

John owns a negatively geared investment property with annual rental income of $28,000 and deductible expenses of $35,000. If his marginal tax rate is 37%, what is his net after-tax loss?

A property manager is handed a tenant's rent in cash at the office. When must a trust receipt be prepared?

At the end of August an agency balances its trust cash book and reconciles it to the bank statement. By when must it prepare the trial balance of all trust ledger accounts?

An agency records every sales deposit it holds in a single ledger headed 'Sales deposits'. What does the Regulation require instead?

An agency is clearing out old files. How long must it keep its trust account records and its trust account auditor's reports?

As at 1 July 2025, up to what property value could an eligible first-home buyer in Victoria receive a full land transfer duty exemption?

In NSW, stamp duty on residential property purchases is calculated based on:

As at 1 July 2025, an eligible first-home buyer in Victoria buys a home to live in for $650,000. What land transfer duty relief applies?

In NSW, above what purchase price does a foreign person start paying surcharge purchaser duty on residential land?

As at 1 July 2025, a foreign person buys a new apartment in Melbourne. In addition to standard land transfer duty, what foreign purchaser additional duty applies in Victoria?

As at 1 July 2025, a foreign purchaser buys a new $750,000 apartment in Melbourne. How much foreign purchaser additional duty is payable, on top of standard land transfer duty?

A foreign investor purchases a new apartment off-the-plan in Melbourne for $800,000. Which taxes and charges apply to this transaction?

A small agency does both sales and property management and banks sales deposits and rent into one general trust account. What do the rules of conduct require?

An agency closes one of its trust accounts after merging its sales operations. What must the licensee do about the closure?

A supplier obtains a court judgment against a NSW agency for unpaid office fit-out costs and tries to enforce it against the agency's trust account. What is the position?

Which of these amounts received by a NSW sales agency is trust money under the Property and Stock Agents Act 2002?

An agency has held $412 for a former tenant for more than 2 years and cannot find her despite reasonable efforts. How should it treat this money?

A landlord asks his agent to withdraw $600 in cash from the trust account so he can collect it at the office. What should the agent tell him?

A licensee in charge is going on leave and wants her Class 2 senior property manager to approve trust payments while she is away. Can she delegate this?