THIS MONTH
NEWS
&
VIEWS
SNAPSHOTTop 10 medicalprocedures
ithoutinvasiveinvestigation Source: Bupa
Most expensive claim items at Bupa in 2018
Orthopaedics
Orthopaedics
Ophthalmology
Obstetrics
Orthopaedics
General Surgery
Cardiology
Cardiothoracic
Cardiology
General Surgery
Knee replacement
Hip replacement
Lens procedures
Caesarean delivery
Spinal fusion
Major procedures for obesity
Interventional coronary, with stent
Cardiac valve procedure*
Cardiac pacemaker implantation
Major small & large bowel procedures
Speciality Category
*W
spent on the top
10 procedures
at Bupa
$1.1b
More than
$223.3m
$197.3m
$154.3m
$125.7m
$92.2m
$75.7m
$74.2m
$71.9m
$58.3m
$58.2m
FLUSH
COST:FREE
OS:IOS9.3ORLATER,
ANDROID4.0.3ANDUP
A
ustraliais
blessedwith
freepublictoilets.
And,hey,there’s
alwaysMacca’sif you’redes-
perate.Butthat’snotthecase
elsewhere.In Europe,public
loosareoftena user-paysaffair.
Whennaturecallsyoucould
faceover-the-topATMfees
justtobeflushwithcash.
In theUS,plentyoffastfood
outletsonlyoffertheirwash-
roomstopayingcustomers.
Nomatterwhetheryou’rein
Ozoroverseas,theFlushapp
revealsthelocationofthenear-
estpublicconveniencefrom
190,000restroomsaround
theworld.Theappusesyour
phone’sGPStopinpointyour
location,thendirectsyoutothe
nearestpublictoilet.Youcan
evencheckif thefacilitieshave
disabledaccess,requirea code
orareforcustomersonly.It can
bethekeytomaintainingyour
dignity– andyourcash– at
a timeofgreatneed.
TheonethingFlushwon’ttell
youis whichcubiclehasrunout
oftoiletpaper.
NICOLAFIELD
TAX TIP
Spotlight shines on
property deductions
W
ith tax time now upon us, the tax
office has launched its usual blitz of
announcements on the types of business
activities and deductions it will focus on
in the new tax year.
At the top of the list are rental property
deductions, with the ATO claiming that
in a sample of audited taxpayers 90%
of tax returns were incorrect.
The number of people who own a second
home – either for rental or for their own use
- has exploded in recent years and the ATO
is concerned that those entitled to deduc-
tions are over-claiming while others are
claiming deductions to which they are not
entitled. The classic example of the latter
is owners who use their holiday home for
personal use rather than renting it out.
Rental property owners should only claim
for the periods the property is rented out
or is genuinely available for rent. Periods of
personal use can’t be claimed.
Another focus will be the incorrect appor-
tionment of rental income and expenses
between owners, such as where deductions
on a jointly owned property are claimed by
the owner with the higher taxable income
rather than jointly.
Also, the costs to repair defects existing
at the time of purchase or the costs of ren-
ovation cannot be claimed immediately but
instead need to be added to the cost of the
property for capital gains purposes.
MARK CHAPMAN, DIRECTOR OF TAX COMMUNICATIONS AT
H&R BLOCK. [email protected]
T
his revised edition of a 2008 bestseller
provides an invaluable checklist for
property investors to make the best purchases
for their circumstances. It covers key points
such as location, the investor’s risk profile, how
to secure finance, how much you should pay,
whether it will be easy to rent out, and more.
Margaret Lomas is the founder and director
of Destiny Financial Solutions, which assists
property investors across Australia. She is
one of the country’s most recognised and
respected experts, and the author of nine
property investment books, which collectively
have sold more than 100,000 copies.
Ten readers can win a copy.
In 25 words or less, tell us your best
property investment tip. Enter online at
moneymag.com.au/win or send entries to
Money, Level 7, 55 Clarence Street, Sydney,
NSW, 2000. Entries open July 29, 2019
and close September 4, 2019.
20 MUST ASK QUESTIONS
FOR EVERY PROPERTY
INVESTOR by Margaret Lomas
(Major Street Publishing, $29.95)
BOOK OF THE
MONTH
APP OF THE
MONTH