Owner, Bronte Pharmacy & Bronte Medical Centre
Iain Byrne is a pharmacist and owner of Bronte Pharmacy and Bronte Medical Centre. He explains how BLG Business Advisers helped him at the start of his business journey and the strength of his relationship with the team that has grown over the years.
There is always a lot of conversation and discussion over residential property. Topics like where the market is, where it’s going, if it’s a good time to sell, stories of missed opportunities to name a few. What isn’t discussed nearly as much is the subject of commercial property. The reason is simply because the residential property market is bigger – there are more people than businesses.
Land tax is a state tax and is one of several charges you may be required to pay when you buy property. This tax generally applies to those who own, or jointly own, a property in NSW that is not their primary place of residence, or that is not exempt and is above a certain land value threshold.
For many of us, the decision to sell a property is an important one, especially if it’s our main residence. Accordingly, it is vital to be aware of the relevant Capital Gains Tax (CGT) implications and exemptions when selling your main residence.