2018

Have you recently taken advantage of a windfall in the form of some property? The word "windfall" refers to an unexpected and usually financial benefit, but it's not always as it may seem. You may have mixed emotions, especially if this gain was associated with a loved one's passing, but you also need to take into account some new obligations associated with this sum of money. Do you need to account for capital gains tax and if so, what is involved?

If you have a diverse portfolio, then you may well own some residential properties within the rental market that produce a regular income for you. You will, of course, need to claim this income on your tax return and may be used to offsetting certain expenditure to reduce your obligation. However, while you may include maintenance charges, repair costs, council rates and property management fees, you may be missing out on a potentially substantial deduction for tax depreciation.

As a business owner, one of the leading insurance policies you need is public liability coverage. This type of insurance is designed to protect you and your clients or customers if a loss happens on your property. This can be a physical loss or a monetary loss. Before you get public liability insurance, there are a few things you should know about the insurance coverage. Here are three key points you should know.