Property investor common tax traps
ATO warns property investors about common tax traps In 2019/20, over 1.8 million Australians owned rental properties and claimed $38 billion in deductions, so the ATO is reminding property investors Read More…
Rent or lease payment changes due to COVID-19
Rent or lease payment COVID-19 changes The ATO has provided updates regarding the tax implications when a landlord gives, or a tenant receives, rent concessions (such as waivers or deferrals Read More…
ATO property data-matching programs
New ATO data-matching programs involving property The ATO has advised that it will engage in two new data-matching programs dealing with property transactions, as follows: The ATO will acquire property Read More…
Getting the margin scheme right
The margin scheme may allow a property owner to pay less GST when they sell the property Rather than paying 1/11th of the total sale price, sellers may be able Read More…
Property inspections – are physical inspections necessary?
COVID-19 and tax depreciation reports Where a physical inspection of premises is not performed, this increases the risk of deductions being missed or errors being made. Property investors and businesses Read More…