rental property

Capital works deductions for rental property

Rental property investors can claim capital works deductions for construction costs for a rental property, however there are limits imposed in relation to the dates such works were completed. The deductions are only available on residential properties if these were built after 17 July 1985. Generally, up to 15 September 1987 the rate is 4%

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ATO’s top 10 tips for rental property owners common tax mistakes

The ATO has issued a list of tips that should help rental property owners avoid what it has found are their 10 most common errors. It says that avoiding these common mistakes will save many taxpayers time and money. A downloadable PDF of this advice is available for you to distribute to clients (click here).

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ATO waves red flag on holiday rentals

Close on the heels of the June long weekend, the ATO has reminded taxpayers that it is paying close attention to rental properties located in popular holiday destinations around Australia. Assistant Commissioner Kath Anderson says that last year the ATO identified a large number of mistakes with deductions for rental properties, particularly with holiday homes.ATO

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