While most of the attention recently around mortgage rule changes has concentrated on the implementation of the debt-to-income (DTI) rules, it is worth noting that on the same day this change came in (1 July 2024), the Reserve Bank also slightly relaxed the loan-to-value restrictions on secondhand investment properties. What are the loan-to-value (LVR) […]
Tag: #ChasGunaratne #ProvisionalTax #Tax
Methods for Calculating Provisional Tax
Standard Method Instalments are calculated at 105% uplift of previous year’s residual income tax; or 110% of the year before residual income tax (if previous year income tax return is not filed). Pros Use of money interest is calculated on lowest cost option based on the tax instalment paid per standard uplift or in equal […]